[Congressional Record Volume 140, Number 24 (Tuesday, March 8, 1994)]
[Senate]
[Page S]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: March 8, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                  REGULATORY CONSOLIDATION ACT OF 1994

 Mr. RIEGLE. Mr. President, I ask unanimous consent that the 
full text of S. 1895, the Regulatory Consolidation Act of 1994, be 
printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 1895

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

       (a) Short Title.--This Act may be cited as the ``Regulatory 
     Consolidation Act of 1994''.
       (b) Table of Contents.--The table of contents for this Act 
     is as follows:

Sec. 1. Short title; table of contents.
Sec. 2. Purposes.
Sec. 3. Definitions.

            TITLE I--FEDERAL BANKING COMMISSION ESTABLISHED

Sec. 101. Establishment.
Sec. 102. Membership.
Sec. 103. Chairperson and vice chairperson.
Sec. 104. Appointed commissioners' terms.
Sec. 105. Political affiliation.
Sec. 106. Vacancies.
Sec. 107. Employment and other restrictions on commissioners.
Sec. 108. Appointed commissioners' compensation.

 TITLE II--POWERS AND DUTIES TRANSFERRED TO FEDERAL BANKING COMMISSION

Sec. 201. Powers and duties transferred.
Sec. 202. Designated transfer date.
Sec. 203. Office of Comptroller of the Currency abolished.
Sec. 204. Office of Thrift Supervision abolished.
Sec. 205. Federal Financial Institutions Examination Council abolished.
Sec. 206. Savings provisions.

          TITLE III--OPERATIONS OF FEDERAL BANKING COMMISSION

Sec. 301. Regulations and orders.
Sec. 302. Delegation of authority.
Sec. 303. Personnel.
Sec. 304. Litigation Authority.
Sec. 305. Funding.
Sec. 306. Contracting and leasing authority.
Sec. 307. Access to Commission's records.
Sec. 308. Federal Reserve's participation in examinations.
Sec. 309. Federal Reserve's authority to take enforcement action 
              against largest banking organizations.
Sec. 310. Commission's supervision of certain State depository 
              institutions.
Sec. 311. Advisory councils.
Sec. 312. Regulatory appeals process.
Sec. 313. Inspector General.
Sec. 314. Legislative and regulatory coordination.

                   TITLE IV--TRANSITIONAL PROVISIONS

Sec. 401. Commission's interim authority.
Sec. 402. Federal banking agencies' interim responsibilities.
Sec. 403. Employees transferred.
Sec. 404. Property transferred.
Sec. 405. Funds transferred.
Sec. 406. Disposition of affairs.
Sec. 407. Continuation of services.

    TITLE V--CONFORMING AMENDMENTS TO FEDERAL DEPOSIT INSURANCE ACT

Sec. 501. Amendments to section 2.
Sec. 502. Amendments to section 3.
Sec. 503. Amendments to section 5.
Sec. 504. Amendments to section 7.
Sec. 505. Amendments to section 8.
Sec. 506. Amendments to section 10.
Sec. 507. Amendments to section 11.
Sec. 508. Amendment to section 12.
Sec. 509. Amendments to section 13.
Sec. 510. Amendment to section 14.
Sec. 511. Amendments to section 18.
Sec. 512. Amendment to section 20.
Sec. 513. Amendment to section 28.
Sec. 514. Amendment to section 30.
Sec. 515. Amendments to section 32.
Sec. 516. Amendment to section 33.
Sec. 517. Amendments to section 34.
Sec. 518. Amendments to section 35.
Sec. 519. Amendments to section 36.
Sec. 520. Amendments to section 37.
Sec. 521. Amendments to section 38.
Sec. 522. Amendments to section 39.
Sec. 523. Amendment to section 41.
Sec. 524. Amendment to section 42.

       TITLE VI--CONFORMING AMENDMENTS TO OTHER BANKING STATUTES

Sec. 601. Amendments to the Act of June 30, 1876.
Sec. 602. Amendments to the Act of March 29, 1886.
Sec. 603. Amendments to the Act of May 1, 1886.
Sec. 604. Amendments to the Act of November 7, 1918.
Sec. 605. Amendments to the Act of February 25, 1930.
Sec. 606. Amendments to the Act of March 9, 1933.
Sec. 607. Amendments to the Act of August 17, 1950.
Sec. 608. Amendments to the Act of September 8, 1959.
Sec. 609. Amendments to the Act of September 28, 1962.
Sec. 610. Amendments to the Alternative Mortgage Transaction Parity Act 
              of 1982.
Sec. 611. Amendments to the Bank Conservation Act.
Sec. 612. Amendments to the Bank Enterprise Act of 1991.
Sec. 613. Amendments to the Bank Holding Company Act of 1956.
Sec. 614. Amendments to the Bank Holding Company Act Amendments of 
              1970.
Sec. 615. Amendments to the Bank Protection Act of 1968.
Sec. 616. Amendments to the Bank Service Corporation Act.
Sec. 617. Amendments to the Banking Act of 1933.
Sec. 618. Amendments to the Banking Act of 1935.
Sec. 619. Amendments to the Community Reinvestment Act of 1977.
Sec. 620. Amendments to the Competitive Equality Banking Act of 1987.
Sec. 621. Amendments to the Depository Institutions Deregulation and 
              Monetary Control Act of 1980.
Sec. 622. Amendments to the Depository Institutions Disaster Relief Act 
              of 1992.
Sec. 623. Amendments to the Depository Institutions Disaster Relief Act 
              of 1993.
Sec. 624. Amendments to the Depository Institution Management 
              Interlocks Act.
Sec. 625. Amendments to the Electronic Fund Transfer Act.
Sec. 626. Amendments to the Emergency Homeowners' Relief Act.
Sec. 627. Amendments to the Equal Credit Opportunity Act.
Sec. 628. Amendments to the Expedited Funds Availability Act.
Sec. 629. Amendments to the Fair Credit Reporting Act.
Sec. 630. Amendments to the Fair Debt Collection Practices Act.
Sec. 631. Amendments to the Federal Credit Union Act.
Sec. 632. Amendments to the Federal Deposit Insurance Corporation 
              Improvement Act of 1991.
Sec. 633. Amendments to the Federal Financial Institutions Examination 
              Council Act of 1978.
Sec. 634. Amendments to the Federal Home Loan Bank Act.
Sec. 635. Amendments to the Federal Reserve Act.
Sec. 636. Amendments to the Financial Institutions Reform, Recovery, 
              and Enforcement Act of 1989.
Sec. 637. Amendments to the Home Mortgage Disclosure Act of 1975.
Sec. 638. Amendments to the Home Owners' Loan Act.
Sec. 639. Amendments to the Housing Act of 1948.
Sec. 640. Amendments to the Housing and Community Development Act of 
              1992.
Sec. 641. Amendments to the Housing and Urban Rural Recovery Act of 
              1983.
Sec. 642. Amendments to the International Banking Act of 1978.
Sec. 643. Amendments to the International Lending Supervision Act of 
              1983.
Sec. 644. Amendments to the National Housing Act.
Sec. 645. Amendments to the Real Estate Settlement Procedures Act.
Sec. 646. Amendments to the Resolution Trust Corporation Refinancing, 
              Restructuring, and Improvement Act of 1991.
Sec. 647. Amendments to the Revised Statutes.
Sec. 648. Amendments to the Right to Financial Privacy Act of 1978.
Sec. 649. Amendments to the Truth in Lending Act.
Sec. 650. Amendments to the Truth in Savings Act.
Sec. 651. Comptroller's currency-related functions repealed.

           TITLE VII--CONFORMING AMENDMENTS TO OTHER STATUTES

Sec. 701. Amendments to the Balanced Budget and Emergency Deficit 
              Control Act of 1985.
Sec. 702. Amendments to the Bankruptcy Code.
Sec. 703. Amendments to the Commodity Exchange Act.
Sec. 704. Amendments to the Crime Control Act of 1990.
Sec. 705. Amendments to the Energy Conservation and Production Act.
Sec. 706. Amendments to the Farm Credit Act of 1971.
Sec. 707. Amendments to the Federal Trade Commission Act.
Sec. 708. Amendments to the Financial Reports Act of 1988.
Sec. 709. Amendments to the Flood Disaster Protection Act of 1973.
Sec. 710. Amendments to the Internal Revenue Code of 1986.
Sec. 711. Amendments to the Investment Advisers Act of 1940.
Sec. 712. Amendments to the Investment Company Act of 1940.
Sec. 713. Amendments to the Neighborhood Reinvestment Corporation Act.
Sec. 714. Amendments to the Paperwork Reduction Act of 1980.
Sec. 715. Amendments to the Securities and Exchange Act of 1934.
Sec. 716. Amendments to the Small Business Investment Act of 1958.
Sec. 717. Amendments to the title 5, United States Code.
Sec. 718. Amendments to the title 18, United States Code.
Sec. 719. Amendments to the title 25, United States Code.
Sec. 720. Amendments to the title 28, United States Code.
Sec. 721. Amendments to the title 31, United States Code.
Sec. 722. Amendments to the title 44, United States Code.
Sec. 723. Amendments to the Trust Indenture Act of 1939.

     SEC. 2. PURPOSES.

       The purposes of this Act are as follows:
       (1) To promote the safety and soundness of insured 
     depository institutions.
       (2) To protect the deposit insurance funds.
       (3) To improve the supervision and examination of insured 
     depository institutions and their affiliates.
       (4) To preserve and enhance the dual banking system.
       (5) To reduce the cost of regulating depository 
     institutions and their affiliates.
       (6) To eliminate needless regulatory burdens, thus allowing 
     insured depository institutions to compete more effectively 
     and better serve consumers.
       (7) To eliminate overlap, confusion, and inconsistency in 
     supervision and regulation of insured depository institutions 
     and their affiliates.
       (8) To take better account of diferences among insured 
     depository institutions.
       (9) To eliminate unwarranted impediments to credit 
     availability for businesses (including small businesses) and 
     consumers.
       (10) To promote stable, predictable, and fair supervision 
     of insured depository institutions and their affiliates.

     SEC. 3. DEFINITIONS.

       For purposes of titles I through IV of this Act, the 
     following definitions shall apply:
       (1) Appointed commissioner.--The term ``appointed 
     commissioner'' or ``appointed commissioners'' means a 
     commissioner or commissioners appointed by the President 
     under section 102(3).
       (2) Board of governors.--The term ``Board of Governors'' 
     means the Board of Governors of the Federal Reserve System.
       (3) Chairperson.--The term ``Chairperson'' means the 
     Chairperson of the Federal Banking Commission.
       (4) Commission.--The term ``Commission'' means the Federal 
     Banking Commission.
       (5) Designated transfer date.--The term ``designated 
     transfer date'' means the date designated under section 202.
       (6) Secretary.--The term ``Secretary'' means the Secretary 
     of the Treasury.
       (7) Certain other terms.--The terms ``affiliate'', ``bank 
     holding company'', ``control'' (when used with respect to a 
     depository institution), ``depository institution'', 
     ``including'', ``insured branch'', ``insured depository 
     institution'', ``national member bank'', ``State bank 
     supervisor'', ``State depository institution'', ``State 
     member bank'', ``State nonmember bank'', and ``subsidiary'' 
     have the same meanings as in section 3 of the Federal Deposit 
     Insurance Act.

            TITLE I--FEDERAL BANKING COMMISSION ESTABLISHED

     SEC. 101. ESTABLISHMENT.

       There is established the Federal Banking Commission as an 
     independent establishment in the executive branch.

     SEC. 102. MEMBERSHIP.

       The Commission shall consist of the following 5 
     commissioners:
       (1) The Secretary (or the Secretary's designee).
       (2) The Board of Governors, acting through a member of the 
     Board of Governors designated as a commissioner by resolution 
     of the Board of Governors; and
       (3) 3 commissioners appointed by the President, by and with 
     the advice and consent of the Senate--
       (A) from among individuals who are citizens of the United 
     States; and
       (B) at least 1 of whom (other than the commissioner 
     designated as the Chairperson under section 103(a)(1)) shall 
     be a person who has demonstrated knowledge of, and competence 
     in, State supervision and regulation of depository 
     institutions.

     SEC. 103. CHAIRPERSON AND VICE CHAIRPERSON.

       (a) Chairperson.--
       (1) Designation.--The President shall, by and with the 
     advice and consent of the Senate, designate 1 of the 
     appointed commissioners, at the time of that person's 
     appointment to the Commission, to serve as the Chairperson of 
     the Commission.
       (2) Chief executive officer.--The Chairperson shall be the 
     Commission's chief executive officer, subject to the 
     supervision of the Commission.
       (b) Vice Chairperson.--
       (1) Selection.--The Commission shall select a Vice 
     Chairperson from among its members.
       (2) Acting chairperson.--The Vice Chairperson shall act as 
     Chairperson if--
       (A) the position of Chairperson is vacant; or
       (B) the Chairperson is absent or unable to perform the 
     functions of Chairperson.

     SEC. 104. APPOINTED COMMISSIONERS' TERMS.

       (a) Chairperson.--The Chairperson shall be appointed for a 
     term expiring 4 years after the term of the predecessor 
     Chairperson expires.
       (b) Other Appointed Commissioners.--Each of the other 2 
     appointed commissioners shall be appointed for a term of 5 
     years.
       (c) Removal Only for Cause.--The President may remove any 
     appointed commissioner for inefficiency, neglect of duty, or 
     malfeasance in office.
       (d) Unexpired Terms.--Any commissioner appointed to fill a 
     vacancy occurring before the end of the term to which the 
     commissioner's predecessor was appointed shall be appointed 
     only for the remainder of the term.
       (e) Continuation of Service.--
       (1) In general.--Each appointed commissioner may continue 
     to serve after the expiration of the term of office to which 
     the commissioner was appointed until a successor has been 
     appointed and qualified.
       (2) Continuation not to affect chairperson's term.--Any 
     continuation of service by the Chairperson under paragraph 
     (1) shall not cause the successor Chairperson's term to 
     expire later than as provided under subsection (a).
       (f) Initial Appointments Staggered.--Notwithstanding 
     subsections (a) and (b)--
       (1) the first Chairperson shall be appointed for a term 
     that expires March 31, 1997; and
       (2) of the first 2 other appointed commissioners--
       (A) 1 shall be appointed for a term that expires 5 years 
     after the designated transfer date; and
       (B) 1 shall be appointed for a term that expires 2\1/2\ 
     years after the designated transfer date,

     as designated by the President at the time of their 
     appointments.

     SEC. 105. POLITICAL AFFILIATION.

       Not more than 2 of the appointed commissioners may be 
     members of the same political party.

     SEC. 106. VACANCIES.

       Any vacancy on the Commission shall be filled in the same 
     manner in which the original appointment was made.

     SEC. 107. EMPLOYMENT AND OTHER RESTRICTIONS ON COMMISSIONERS.

       During service on the Commission, no commissioner may--
       (1) hold any office or position, or otherwise be employed 
     by, any insured depository institution or company having 
     control of an insured depository institution;
       (2) hold stock of any insured depository institution or 
     company having control of an insured depository institution; 
     or
       (3) serve as an officer, director, or employee of any 
     Federal reserve bank or Federal home loan bank.

     SEC. 108. APPOINTED COMMISSIONERS' COMPENSATION.

       (a) Chairperson.--The Chairperson shall receive 
     compensation at the rate prescribed for Level II of the 
     Executive Schedule under section 5313 of title 5, United 
     States Code.
       (b) Other Appointed Commissioners.--The 2 other appointed 
     commissioners shall each receive compensation at the rate 
     prescribed for Level III of the Executive Schedule under 
     section 5314 of title 5, United States Code.

 TITLE II--POWERS AND DUTIES TRANSFERRED TO FEDERAL BANKING COMMISSION

     SEC. 201. POWERS AND DUTIES TRANSFERRED.

       (a) Comptroller of the Currency.--
       (1) Transfer of functions.--All functions of the 
     Comptroller of the Currency are transferred to the 
     Commission.
       (2) Commission's authority.--The Commission shall have all 
     powers and duties that were vested in the Comptroller of the 
     Currency on the day before the designated transfer date.
       (b) Director of the Office of Thrift Supervision.--
       (1) Transfer of functions.--All functions of the Director 
     of the Office of Thrift Supervision are transferred to the 
     Commission.
       (2) Commission's authority.--The Commission shall have all 
     powers and duties that were vested in the Director of the 
     Office of Thrift Supervision on the day before the designated 
     transfer date.
       (c) Board of Governors.--
       (1) Transfer of functions.--
       (A) In general.--Except as provided in subparagraph (B), 
     all functions of the Board of Governors (and any Federal 
     reserve bank) relating to the supervision and regulation of 
     the following entities are transferred to the Commission:
       (i) National member banks and State member banks.
       (ii) Bank holding companies and their affiliates, and other 
     companies having control over depository institutions.
       (iii) Foreign banks and branches, agencies, and 
     representative offices of foreign banks (as those terms are 
     defined in section 1 of the International Banking Act of 
     1978), and affiliates of foreign banks.
       (iv) Commercial lending companies (as that term is defined 
     in section 1 of the International Banking Act of 1978).
       (v) Companies operating under the International Banking Act 
     of 1978 and sections 25 and 25A of the Federal Reserve Act.
       (vi) Companies that are subject to supervision or 
     regulation by the Board of Governors under any title of the 
     Consumer Credit Protection Act or any other consumer 
     protection statute.
       (B) Functions not transferred.--Notwithstanding 
     subparagraph (A), the functions of the Board of Governors 
     relating to monetary policy and open market operations, 
     administration of the payment system, and discount window 
     operations are not transferred to the Commission.
       (2) Commission's authority.--The Commission shall have all 
     powers and duties that, on the day before the designated 
     transfer date, were vested in the Board of Governors (and any 
     Federal reserve bank) relating to the supervision and 
     regulation of the entities listed in paragraph (1)(A).
       (d) Federal Deposit Insurance Corporation.--
       (1) Transfer of functions.--
       (A) In general.--Except as provided in subparagraph (B), 
     all functions of the Federal Deposit Insurance Corporation 
     (and its Board of Directors) relating to the supervision and 
     regulation of State nonmember banks and insured branches are 
     transferred to the Commission.
       (B) Functions not transferred.--Notwithstanding 
     subparagraph (A), the functions of the Federal Deposit 
     Insurance Corporation relating to deposit insurance, 
     conservatorship, or receivership are not transferred to the 
     Commission.
       (2) Commission's authority.--The Commission shall have all 
     powers and duties that, on the day before the designated 
     transfer date, were vested in the Federal Deposit Insurance 
     Corporation (or its Board of Directors) relating to the 
     supervision and regulation of State nonmember banks and 
     insured branches.
       (e) Schools for Examiners.--All functions of the Federal 
     Financial Institutions Examination Council relating to the 
     conduct of schools for examiners and assistant examiners 
     under section 1006(d) of the Federal Financial Institutions 
     Examination Council Act of 1978 are transferred to the 
     Commission.
       (f) Effective Date.--Subsections (a) through (e) shall 
     become effective on the designated transfer date.

     SEC. 202. DESIGNATED TRANSFER DATE.

       (a) In General.--Not later than 60 days after the date of 
     enactment of this Act, the Secretary--
       (1) shall, in consultation with the Comptroller of the 
     Currency, the Director of the Office of Thrift Supervision, 
     the Chairman of the Board of Governors, and the Chairperson 
     of the Federal Deposit Insurance Corporation, designate a 
     single calendar date for the transfer of functions to the 
     Commission under section 201; and
       (2) shall publish notice of that designation in the Federal 
     Register.
       (b) Changing Designation.--The Secretary--
       (1) may, in consultation with the Comptroller of the 
     Currency, the Director of the Office of Thrift Supervision, 
     the Chairman of the Board of Governors, and the Chairperson 
     of the Federal Deposit Insurance Corporation, change the date 
     designated under subsection (a); and
       (2) shall publish notice of any changed designation in the 
     Federal Register.
       (c) Permissible Dates.--
       (1) In general.--Except as provided in paragraph (2), any 
     date designated under this section shall be not earlier than 
     120 days nor later than 1 year after the date of enactment of 
     this Act.
       (2) Extension of time.--The Secretary may designate a date 
     that is later than 1 year after the date of enactment of this 
     Act if the Secretary transmits to the Committee on Banking, 
     Housing, and Urban Affairs of the Senate and the Committee on 
     Banking, Finance and Urban Affairs of the House of 
     Representatives--
       (A) a written certification that orderly implementation of 
     this Act is not feasible before the last date designated 
     under this section;
       (B) an explanation of why orderly implementation of this 
     Act is not feasible before the last date designated under 
     this section;
       (C) a description of the steps that have been taken to 
     effect an orderly implementation of this Act--
       (i) within the period described in paragraph (1); or
       (ii) if the Secretary has previously designated a date 
     under this paragraph, before that date; and
       (D) a description of the steps that will be taken to effect 
     an orderly and timely implementation of this Act.
       (3) Extension limited.--In no case shall any date 
     designated under this section be later than 18 months after 
     the date of enactment of this Act.

     SEC. 203. OFFICE OF COMPTROLLER OF THE CURRENCY ABOLISHED.

       Effective 90 days after the designated transfer date, the 
     Office of the Comptroller of the Currency and the position of 
     Comptroller of the Currency are abolished.

     SEC. 204. OFFICE OF THRIFT SUPERVISION ABOLISHED.

       Effective 90 days after the designated transfer date, the 
     Office of Thrift Supervision and the position of Director of 
     the Office of Thrift Supervision are abolished.

     SEC. 205. FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL 
                   ABOLISHED.

       (a) In General.--Effective on the designated transfer date, 
     the Federal Financial Institutions Examination Council is 
     abolished.
       (b) Appraisal Subcommittee Reconstituted Appraisal 
     Committee.--
       (1) In general.--Effective on the designated transfer date, 
     the Appraisal Subcommittee established by section 1011 of the 
     Federal Financial Institutions Examination Council Act of 
     1978 is redesignated as the ``Appraisal Committee'' and 
     reconstituted in accordance with paragraphs (2) and (3).
       (2) Federal financial institutions examination council act 
     amended.--Effective on the designated transfer date, section 
     1011 of the Federal Financial Institutions Examination 
     Council Act of 1978 is amended to read as follows:

     ``SEC. 1011. ESTABLISHMENT OF APPRAISAL COMMITTEE.

       ``There shall be a committee to be known as the `Appraisal 
     Committee', which shall consist of the designees of the 
     Chairperson of the Federal Banking Commission, the 
     Chairperson of the Federal Deposit Insurance Corporation, and 
     the Chairman of the National Credit Union Administration 
     Board. Each such designee shall be a person who has 
     demonstrated knowledge and competence concerning the 
     appraisal profession.''.
       (3) Financial institutions reform, recovery, and 
     enforcement act amended.--Effective on the designated 
     transfer date, section 1104 of the Financial Institutions 
     Reform, Recovery, and Enforcement Act of 1989 is amended--
       (A) in the heading, by striking ``appraisal subcommittee'' 
     and inserting ``appraisal committee'';
       (B) by amending subsection (a) to read as follows:
       ``(a) Chairperson.--The members of the Appraisal Committee 
     shall select the first chairperson of the Appraisal 
     Committee. Thereafter the chair shall rotate among the 
     members of the Appraisal Committee. The term of the 
     Chairperson shall be 2 years''; and
       (C) in subsection (b), by striking ``Appraisal 
     Subcommittee'' each place it appears and inserting 
     ``Appraisal Committee''.

     SEC. 206. SAVINGS PROVISIONS.

       (a) Office of the Comptroller of the Currency.--
       (1) Existing rights, duties, and obligations not 
     affected.--Sections 201(a)(1) and 203 shall not affect the 
     validity of any right, duty, or obligation of the United 
     States, the Comptroller of the Currency, the Office of the 
     Comptroller of the Currency, or any other person, that 
     existed on the day before the designated transfer day.
       (2) Continuation of suits.--This Act shall not abate any 
     proceeding commenced by or against the Comptroller of the 
     Currency or the Office of the Comptroller of the Currency 
     before the designated transfer date, except that the 
     Commission shall be substituted for the Comptroller or the 
     Office of the Comptroller of the Currency as a party to any 
     such proceeding as of the designated transfer date.
       (b) Office of Thrift Supervision.--
       (1) Existing rights, duties, and obligations not 
     affected.--Sections 201(b)(1) and 204 shall not affect the 
     validity of any right, duty, or obligation of the United 
     States, the Director of the Office of Thrift Supervision, the 
     Office of Thrift Supervision, or any other person, that 
     existed on the day before the designated transfer date.
       (2) Continuation of suits.--This Act shall not abate any 
     proceeding commenced by or against the Director of the Office 
     of Thrift Supervision or the Office of Thrift Supervision 
     before the designated transfer date, except that the 
     Commission shall be substituted for the Director or the 
     Office of Thrift Supervision as a party to any such 
     proceeding as of the designated transfer date.
       (c) Board of Governors.--
       (1) Existing rights, duties, and obligations not 
     affected.--Section 201(c)(1) shall not affect the validity of 
     any right, duty, or obligation of the United States, the 
     Board of Governors (or any Federal reserve bank), or any 
     other person that--
       (A) arises under any provision of law relating to the 
     supervision and regulation of the entities listed in section 
     201(c)(1)(A); and
       (B) existed on the day before the designated transfer date.
       (2) Continuation of suits.--This Act shall not abate any 
     proceeding commenced by or against the Board of Governors (or 
     any Federal reserve bank) before the designated transfer date 
     with respect to any function of the Board of Governors (or 
     any Federal reserve bank) transferred to the Commission by 
     this Act, except that the Commission shall be substituted for 
     the Board of Governors (or Federal reserve bank) as a party 
     to any such proceeding as of the designated transfer date.
       (d) Federal Deposit Insurance Corporation.--
       (1) Existing rights, duties, and obligations not 
     affected.--Section 201(d)(1) shall not affect the validity of 
     any right, duty, or obligation of the United States, the 
     Federal Deposit Insurance Corporation, the Board of Directors 
     of that Corporation, or any other person, that--
       (A) arises under any provision of law relating to the 
     supervision and regulation of State nonmember banks or 
     insured branches; and
       (B) existed on the day before the designated transfer date.
       (2) Continuation of suits.--This Act shall not abate any 
     proceeding commenced by or against the Federal Deposit 
     Insurance Corporation or the Board of Directors of that 
     Corporation before the designated transfer date with respect 
     to any function of the Corporation or Board of Directors 
     transferred to the Commission by this Act, except that the 
     Commission shall be substituted for the Corporation or Board 
     of Directors, as the case may be, as a party to any such 
     proceeding as of the designated transfer date.
       (e) Continuation of Existing Orders, Resolutions, 
     Determinations, Agreements, and Regulations.--All orders, 
     resolutions, determinations, agreements, and regulations, 
     that have been issued, made, prescribed, or allowed to become 
     effective by the Office of the Comptroller of the Currency, 
     the Office of Thrift Supervision, the Board of Governors (or 
     any Federal reserve bank), or the Federal Deposit Insurance 
     Corporation (including orders, resolutions, determinations, 
     and regulations that relate to the conduct of 
     conservatorships and receiverships), or by a court of 
     competent jurisdiction, in the performance of functions that 
     are transferred by this Act and that are in effect on the day 
     before the designated transfer date, shall continue in effect 
     according to the terms of those orders, resolutions, 
     determinations, agreements, and regulations, and shall be 
     enforceable by or against the Federal Banking Commisssion 
     until modified, terminated, set aside, or superseded in 
     accordance with applicable law by the Commission, by any 
     court of competent jurisdiction, or by operation of law.
       (f) Identification of Regulations Continued.--Not later 
     than the designated transfer date, the Commission--
       (1) shall, after consultation with the Chairman of the 
     Board of Governors and the Chairperson of the Federal Deposit 
     Insurance Corporation, identify the regulations continued 
     under subsection (e) that will be enforced by the Commission; 
     and
       (2) shall publish a list of such regulations in the Federal 
     Register.
       (g) Status of Regulations Proposed or Not Yet Effective.--
       (1) Proposed regulations.--Any proposed regulation of the 
     Office of the Comptroller of the Currency, the Office of 
     Thrift Supervision, the Board of Governors, or the Federal 
     Deposit Insurance Corporation, which that agency, in 
     performing functions transferred by this Act, has proposed 
     before the designated transfer date but has not published as 
     a final regulation before that date, shall be deemed to be a 
     proposed regulation of the Commission.
       (2) Regulations not yet effective.--Any interim or final 
     regulation of the Office of the Comptroller of the Currency, 
     the Office of Thrift Supervision, the Board of Governors, or 
     the Federal Deposit Insurance Corporation, which that agency, 
     in performing functions transferred by this Act, has 
     published before the designated transfer date but which has 
     not become effective before that date, shall become effective 
     as a regulation of the Commission according to its terms.

          TITLE III--OPERATIONS OF FEDERAL BANKING COMMISSION

     SEC. 301. REGULATIONS AND ORDERS.

       In addition to any powers transferred to the Commission by 
     this Act, the Commission may prescribe such regulations and 
     issue such orders as the Commission determines to be 
     appropriate to carry out this Act and the powers and duties 
     transferred to the Commission by this Act.

     SEC. 302. DELEGATION OF AUTHORITY.

       (a) In General.--The Commission may delegate any authority 
     of the Commission to--
       (1) any commissioner;
       (2) any employee or agent of the Commission; or
       (3) an administrative law judge.
       (b) Delegations May Be Conditional.--The Commission may 
     impose on any delegation under subsection (a) such conditions 
     as the Commission determines to be appropriate, including 
     reservation to the Commission of a right of review.

     SEC. 303. PERSONNEL.

       (a) Appointment.--The Commission may fix the number of, and 
     appoint and direct all employees of the Commission.
       (b) Compensation: Pay and Benefits.--
       (1) Pay.--The Commission shall fix, adjust, and administer 
     the pay of all employees of the Commission without regard to 
     the provisions of other laws (other than this Act) applicable 
     to officers or employees of the United States, including 
     establishing a position classification system without regard 
     to the provisions of chapter 51 of title 5, United States 
     Code.
       (2) Additional benefits.--The Commission may provide 
     benefits to Commission employees in addition to the 
     retirement, health insurance, and life insurance benefits 
     provided to other employees of the United States under title 
     5, United States Code, without regard to the provisions of 
     other laws (other than this Act) applicable to officers or 
     employees of the United States.
       (3) Annual report required.--The Commission shall report 
     annually to the Congress on the structure of pay and benefits 
     for employees of the Commission.

     SEC. 304. LITIGATION AUTHORITY.

       The Commission may employ attorneys to conduct litigation 
     brought by or against the Commission, its officers, or 
     employees, or in which the Commission has an interest, but 
     such litigation may be conducted only with the prior consent 
     of the Attorney General of the United States and subject to 
     the Attorney General's direction and control.

     SEC. 305. FUNDING.

       (a) Authority to Impose and Collect Assessments, Fees, and 
     Other Charges.--
       (1) 1-basis point fee in lieu of current fdic spending from 
     deposit insurance funds for supervision.--
       (A) In general.--When collecting semiannual assessments 
     under section 7(b) of the Federal Deposit Insurance Act, the 
     Federal Deposit Insurance Corporation shall collect from 
     insured depository institutions an amount equal to one-half 
     basis point per dollar of domestic deposits of all insured 
     depository institutions.
       (B) Remittance.--The Federal Deposit Insurance Corporation 
     shall, not later than 75 days after the close of each 
     semiannual period (as defined in section 7(b) of the Federal 
     Deposit Insurance Act), remit to the Commission the amounts 
     collected under subparagraph (A).
       (C) Effective date.--This paragraph shall become effective 
     with respect to the semiannual period in which the designated 
     transfer date occurs.
       (D) Special rule until bank insurance fund achieves 
     designated reserve ratio.--For purposes of section 7(b)(2)(E) 
     of the Federal Deposit Insurance Act, the amounts collected 
     by the Federal Deposit Insurance Corporation from Bank 
     Insurance Fund members under this paragraph shall be included 
     in the total amount raised by semiannual assessments on 
     members of the fund.
       (2) Transitional payment reflecting savings to federal 
     reserve.--
       (A) Payments by board of governors.--The Board of Governors 
     shall make annual payments to the Commission not later than 
     December 31 of each calendar year, as follows:
       (i) Initial 5-year period.--For each of the first 5 
     calendar years beginning with the calendar year that includes 
     the designated transfer date, the Board of Governors shall 
     pay the identified savings amount for that calendar year.
       (ii) Payment to decrease over subsequent 9-year period.--
     For each of the 9 calendar years following the expiration of 
     the 5-year period referred to in clause (i), the Board of 
     Governors shall pay the applicable percentage of the 
     identified savings amount for that calendar year, as set 
     forth in the following table:

         For the following                               The applicable
           period:                                       percentage is:
           First Year........................................90 percent
           Second Year.......................................80 percent
           Third Year........................................70 percent
           Fourth Year.......................................60 percent
           Fifth Year........................................50 percent
           Sixth Year........................................40 percent
           Seventh Year......................................30 percent
           Eighth Year.......................................20 percent
           Ninth Year........................................10 percent
           Thereafter........................................0 percent.

       (B) Identified savings amount defined.--
       (i) In general.--The term ``identified savings amount'' 
     means $       (i.e. the net amount by which this Act will 
     reduce the expenses of the Board of Governors for each of the 
     14 calendar years referred to in subparagraph (A), currently 
     estimated at over $300 million);
       (ii) Identified savings amount adjusted for inflation.--The 
     dollar amount referred to in clause (i) shall be adjusted 
     annually and cumulatively using the percent by which the 
     average urban consumer price index for the quarter preceding 
     the date of the payment differs from the average of that 
     index for the same quarter in the prior year.
       (3) Fees and other charges.--
       (A) In general.--The Commission may assess fees and other 
     charges against any institution or entity supervised or 
     regulated by the Commission, as the Commission deems 
     necessary or appropriate to carry out its duties and recover 
     its costs.
       (B) Supervisory fees on insured depository institutions.--
       (i) In general.--The Commission shall assess fees at rates 
     based on an insured depository institution's total assets, 
     taking into account the extent to which large institutions 
     are, per dollar of assets, less costly to supervise.
       (ii) Special rule for state banks.--Fees on State member 
     banks and State nonmember banks shall be at rates that--

       (I) do not exceed 50 percent of the rate applied to 
     national banks of comparable size; and
       (II) are not applied to the first $1 billion of the bank's 
     total assets.

       (iii) Aggregation of bank assets.--For purposes of the $1 
     billion threshold referred to in clause (ii)(II), the total 
     assets of State member banks and State nonmember banks 
     commonly controlled by a bank holding company shall be 
     aggregated.
       (C) Processing fees.--The Commission may assess against any 
     person who submits to the Commission an application, filing, 
     notice, request, or similar submission, fees to recover the 
     Commission's cost of processing the submission.
       (4) Interim collections from the corporation or the board 
     of governors during transition.--
       (A) In general.--During the 5-year period following the 
     designated transfer date, the Federal Deposit Insurance 
     Corporation shall make payments under paragraph (1) and the 
     Board of Governors shall make payments under paragraph (2) 
     before the payment dates specified in those paragraphs if the 
     Commission certifies that earlier payments are needed to meet 
     the Commission's operating expenses.
       (B) Reconciliation of early payments.--The Commission shall 
     make adjustments to subsequent payments due under paragraphs 
     (1) and (2) as necessary to reconcile any underpayment or 
     overpayment of payments made under subparagraph (A).
       (b) Federal Banking Commission Fund.--
       (1) Separate fund in treasury established.--There is 
     established in the Treasury a separate fund called the 
     ``Federal Banking Commission Fund''.
       (2) All transferred funds deposited.--All amounts 
     transferred to the Commission under section 405 shall be 
     deposited into the Federal Banking Commission Fund.
       (3) All receipts deposited.--The Commission shall deposit 
     into the Federal Banking Commission Fund all moneys that it 
     receives, whether obtained under subsection (a) or otherwise.
       (c) Use of Funds.--
       (1) In general.--Funds transferred to, or deposited into, 
     the Federal Banking Commission Fund shall be immediately 
     available to the Commission, and remain available until 
     expended, to pay the Commission's expenses in carrying out 
     its duties and responsibilities.
       (2) Assessments and other funds not government funds.--
     Funds transferred to, or deposited in, the Federal Banking 
     Commission Fund shall not be construed to be Government funds 
     or appropriated monies.
       (3) Amounts in fund not subject to apportionment.--
     Notwithstanding any other provision of law, amounts in the 
     Federal Banking Commission Fund shall not be subject to 
     appointment for purposes of chapter 15 of title 31, United 
     States Code, or under any other authority.

     SEC. 306. CONTRACTING AND LEASING AUTHORITY.

       The Commission may--
        (1) enter into and perform contracts, execute instruments, 
     and acquire, in any lawful manner, such goods and services, 
     or personal or real property (or property interest) as the 
     Commission deems necessary or convenient to carry out the 
     Commission's duties and responsibilities; and
       (2) hold, maintain, sell, lease, or otherwise dispose of 
     that property (or property interest),

     without regard to the Federal Property and Administrative 
     Services Act of 1949 and other laws of a similar type 
     governing the procurement of goods and services or the 
     acquisition or disposition of personal or real property (or 
     property interest) by executive agencies.

     SEC. 307. ACCESS TO COMMISSION'S RECORDS.

       (a) Access by Boards of Governors.--For the purposes of 
     carrying out its functions under the Federal Reserve Act (as 
     amended by this Act), the board of Governors shall have 
     access, without any deletions, to all of the following:
       (1) all books, accounts, records, reports, files, 
     memoranda, and papers belonging to or in use by the 
     Commission;
       (2) all reports of examination;
       (3) all work papers and correspondence files related to the 
     documents described in paragraph (1) and (2),

     that relate to insured depository institutions or other 
     depository institutions (as defined in section 19(b)(1)(A) of 
     the Federal Reserve Act) or companies having control of 
     insured depository institutions or other depository 
     institutions or subsidiaries of these companies.
       (b) Access by Federal Deposit Insurance Corporation.--For 
     the purpose of carrying out its functions under the Federal 
     Deposit Insurance Act (as amended by this Act), the Federal 
     Deposit Insurance Corporation shall have access, without any 
     deletions, to all of the following:
       (1) all books, accounts records, reports, files, memoranda, 
     and papers belonging to or in use by the Commission;
       (2) all reports of examination;
       (3) all work papers and correspondence files related to the 
     documents described in paragraphs (1) and (2),

     that relate to insured depository institutions or companies 
     have control of insured depository institutions.
       (c) Access by Office of Management and Budget.--
       (1) In general.--For the purpose of preparing budget 
     estimates, the Director of the Office of Management and 
     Budget shall have access to--
       (A) financial data collected by the Commission, or derived 
     by the Commission from data so collected, relating to insured 
     depository institutions or companies having control of 
     insured depository institutions;
       (B) the Commission's financial operating plans and 
     forecasts as prepared by the Commission in the ordinary 
     course of its operations or at the request of the Director of 
     the Office of Management and Budget; and
       (C) any reports of the Commission's financial condition and 
     results of operations as prepared by the Commission in the 
     ordinary course of its operations.
       (2) Data aggregation permitted.--In providing access to 
     financial data under paragraph (1)(A), the Commission may 
     aggregate data by size or type of depository institution or 
     by geographic region.
       (d) Access by Employees.--The Board of Governors, the 
     Federal Deposit Insurance Corporation, and the Director of 
     the Office of Management and Budget may each permit their 
     employees to have access to Commission information on the 
     same terms on which they have access.
       (e) No Privilege Waived.--The Commission does not waive any 
     privilege by providing access to its records under this 
     section.

     SEC. 308. FEDERAL RESERVE'S PARTICIPATION IN EXAMINATIONS.

       (a) Joint Examinations of Large Organizations.--
       (1) In general.--The Board of Governors may select for 
     joint examinations during any calender year not more than 10 
     of the 20 largest banking organizations, if the total assets 
     of the insured depository institution subsidiaries of the 
     banking organizations selected do not exceed 25 percent of 
     the total assets of all insured depository institutions.
       (2) Largest banking organizations jointly determined.--The 
     Commission and the Board of Governors shall jointly determine 
     not less than once each calendar year the 20 largest banking 
     organizations based on the total assets of each banking 
     organization's insured depository institution subsidiaries.
       (3) Lead role in joint examinations of large banking 
     organizations.--
       (A) In general.--Except as provided in subparagraph (B), 
     the Commission shall be the lead agency in joint examinations 
     of banking organizations selected under paragraph (1).
       (B) Exception for certain banking organizations.--The Board 
     of Governors may elect to be the lead agency in the joint 
     examination of any banking organization selected under 
     paragraph (1) that has a majority of the total assets of its 
     insured depository institution subsidiaries in State member 
     banks, if the total assets of the insured depository 
     insitituion subsidiaries of all such banking organizations 
     with respect to which the Board of Governors makes such an 
     election for any calendar year do not exceed 10 percent of 
     the total assets of all insured depository institutions.
       (b) Joint Examinations of Smaller Institutions.--
       (1) In general.--The Board of Governors may select for 
     joint examinations State member banks and their affiliates 
     that are not subsidiaries of any of the 20 largest banking 
     organizations, as determined under subsection (a)(2), if the 
     total assets of the State member banks selected for any 
     calendar year (and any affiliated insured depository 
     institutions) do not exceed 5 percent of the total assets of 
     all insured depository institutions.
       (2) Lead role in joint examinations of smaller 
     institutions.--The Commission shall be the lead agency in 
     joint examinations conducted under this subsection.
       (c) Scope of Participation in Joint Examinations.--In any 
     joint examination conducted under this section the lead 
     agency shall include examiners from the other agency in--
       (1) planning the scope and timing of, and the respective 
     examiners' roles in, the examination, subject to the overall 
     direction and management of the examiner-in-charge of the 
     lead agency; and
       (2) any meetings between examiners of the lead agency and 
     the senior management and board of directors of the examined 
     organization or institution when examination findings are 
     transmitted.
       (d) Procedures.--The Commission and the Board of Governors 
     shall jointly establish procedures under which the Board of 
     Governors may--
       (1) select banking organizations and State member banks for 
     joint examinations under subsections (a) and (b); and
       (2) elect to be the lead agency under subsection (a)(3)(B).
       (e) Banking Organization Defined.--For purposes of this 
     section, the term ``banking organization'' means a bank 
     holding company and its subsidiaries.

     SEC. 309. FEDERAL RESERVE'S AUTHORITY TO TAKE ENFORCEMENT 
                   ACTION AGAINST LARGEST BANKING ORGANIZATIONS.

       (a) Recommending Action by Commission.--The Board of 
     Governors may recommend in writing to the Commission that the 
     Commission take any enforcement action authorized to be taken 
     by the Commission with respect to any banking organization 
     that is one of the 20 largest banking organizations as 
     determined under section 308(a)(2). The recommendation shall 
     be accompanied by a written explanation of the concerns 
     giving rise to the recommendation.
       (b) Authority to Act if Commission Fails to Take Action.--
     If the Commission does not, before the end of the 60-day 
     period beginning on the date on which the Commission receives 
     a recommendation under subsection (a), take the enforcement 
     action recommended by the Board of Governors or provide a 
     plan acceptable to the Board of Governors for responding to 
     its concerns, the Board of Governors may take the recommended 
     enforcement action if the Board of Governors determines, upon 
     a vote of its members, that--
       (1) the banking organization is in an unsafe or unsound 
     condition; or
       (2) the banking organization's current practices, if 
     continued, are likely to render the banking organization in 
     an unsafe and unsound condition in the foreseeable future.
       (c) Effect of Exigent Circumstances.--
       (1) Authority to act.--The Board of Governors may, upon a 
     vote of its members, and after notice to the Commission, 
     exercise its authority under subsection (b) in exigent 
     circumstances without regard to the time period set forth in 
     subsection (b).
       (2) Agreement on exigent circumstances.--The Board of 
     Governors shall, by agreement with the Commission, set forth 
     those exigent circumstances in which the Board of Governors 
     may act under paragraph (1).
       (d) Power and Duties.--For purposes of this subsection--
       (1) the Board of Governors shall have the same powers with 
     respect to any banking organization as the Commission has 
     with respect to the banking organization; and
       (2) the banking organization shall have the same duties and 
     obligations with respect to the Board of Governors as the 
     banking organization has with respect to the Commission.

     SEC. 310. COMMISSION'S SUPERVISION OF CERTAIN STATE 
                   DEPOSITORY INSTITUTIONS.

       (a) Amendments to Federal Deposit Insurance Act.--Section 
     10(d) of the Federal Deposit Insurance Act is amended--
       (1) in paragraph (1), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (2) in paragraph (3), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (3) by redesignating paragraph (5) as paragraph (6); and
       (4) by inserting after paragraph (4) a new paragraph (5) as 
     follows:
       ``(5) Examination of certain small institutions by 
     certified states acceptable.--
       ``(A) In general.--For purposes of discharging its 
     responsibility under paragraph (1) with respect to an insured 
     State depository institution, the Commission may accept an 
     examination of the institution conducted by a State bank 
     supervisor during the preceding 12-month period if--
       ``(i) the State depository institution--

       ``(I) has total assets of less than $250,000,000; and
       ``(II) is well capitalized, as defined in section 38; and

       ``(ii) the State bank supervisor that conducted the 
     examination has been certified by the Commission under 
     section 310(b) of the Regulatory Consolidation Act of 1994.
       ``(B) Aggregation of bank assets.--For purposes of the 
     $250,000,000 level referred to in subparagraph (A)(i)(I), the 
     total assets of State depository institutions commonly 
     controlled by a bank holding company shall be aggregated.''.
       (b) Commission Certification of State Bank Supervisors.--
       (1) In general.--For purposes of discharging the 
     Commission's responsibility under section 10(d)(5) of the 
     Federal Deposit Insurance Act, the Commission may certify a 
     State bank supervisor to examine State depository 
     institutions on behalf of the Commission.
       (2) Scope of certification.--The Commission may certify a 
     State bank supervisor to determine--
       (A) the condition of depository institutions chartered by 
     that State, including whether the operations of the 
     institutions are being conducted safely and soundly;
       (B) whether the operations of depository institutions 
     chartered by that State are being conducted in compliance 
     with applicable Federal consumer protection and community 
     investment laws; or
       (C) both (A) and (B).
       (3) Conditions and procedures for certifications.--The 
     Commission may establish such conditions and procedures for 
     certifying State bank supervisors under this subsection as 
     the Commission deems appropriate.
       (4) Periodic review of certifications; revocation.--
       (A) Periodic review.--The Commission shall periodically 
     review each certification of a State bank supervisor under 
     this subsection to determine whether that agency continues to 
     satisfy the conditions established by the Commission under 
     paragraph (3); and
       (B) Revocation.--The Commission may revoke its 
     certification of a State bank supervisor.
       (c) Federal Law Violations Referred to Commission.--
     Whenever a certified State bank supervisor discovers, in the 
     course of conducting an examination of an insured State 
     depository institution on behalf of the Commission, evidence 
     of a violation of--
       (1) any Federal law;
       (2) any order of any Federal banking agency which has 
     become final;
       (3) any condition imposed in writing by any Federal banking 
     agency in connection with the grant of any application or 
     other request by such institution; or
       (4) any written agreement between the institution and any 
     Federal banking agency, the State bank supervisor shall refer 
     that violation to the Commission.
       (d) Commission's Participation in State Examinations 
     Permitted.--Notwithstanding the Commission's certification of 
     any State bank supervisor under this section, examiners from 
     the Commission may participate in--
       (1) any examination of any insured State depository 
     institution conducted by a certified State bank supervisor;
       (2) planning the scope and timing of, and the Commission's 
     role in, the examination; and
       (3) any meetings between the State bank supervisor 
     examiners and the senior management and board of directors of 
     the examined institution when the examination findings are 
     transmitted.

     SEC. 311. ADVISORY COUNCILS.

       The Commission shall establish the following advisory 
     councils:
       (1) An Advisory Council on Consumer Affairs, to advise the 
     Commission on matters affecting consumers.
       (2) An Advisory Council on Community Depository 
     Institutions, to advise the Commission on matters affecting 
     community banks and savings associations, which council shall 
     have a membership balanced in proportion to the ratio of 
     Federal depository institutions to State depository 
     institutions.
       (3) An Advisory Council on Savings Associations, to advise 
     the Commission on matters affecting savings associations; and
       (4) An Advisory Council on Small Businesses, to advise the 
     Commission on matters affecting small businesses.

     SEC. 312. REGULATORY APPEALS PROCESS.

       (a) In General.--Not later than 120 days after the 
     designated transfer date, the Commission shall establish an 
     independent appellate process available for reviewing 
     material supervisory determinations made by Commission 
     examiners or officials with respect to insured depository 
     institutions.
       (b) Review Process.--In establishing the independent 
     appellate process under subsection (a), the Commission shall 
     ensure--
       (1) that any appeal by an insured depository institution of 
     a material supervisory determination is heard and decided 
     expeditiously; and
       (2) that appropriate safeguards exist for protecting the 
     appellant from retaliation by Commission examiners or 
     officials.
       (c) Comment Period.--Not later than 60 days after the 
     designated transfer date, the Commission shall provide public 
     notice and opportunity for comment on proposed guidelines for 
     the establishment of an independent appellate process under 
     this section.
       (d) Definitions.--For purposes of this section, the 
     following definitions shall apply:
       (1) The term ``material supervisory determinations'' 
     includes determinations relating to--
       (A) examination ratings;
       (B) the adequacy of loan loss reserve provisions; and
       (C) loan classifications on loans that are significant to 
     the institution.
       (2) The term ``independent appellate process'' means a 
     review by a Commission official who does not directly or 
     indirectly report to the Commission examiner or official who 
     made the material supervisory determination under review.
       (e) Effect on Other Authority.--Nothing in this section 
     shall affect the authority of the Commission to take 
     enforcement or supervisory action against an institution.

     SEC. 313. INSPECTOR GENERAL.

       (a) Office of the Inspector General Established.--
       (1) In general.--The Commission shall establish and 
     maintain an Office of the Inspector General.
       (2) Inspector general act amended.--Section 11 of the 
     Inspector General Act of 1978 is amended--
       (A) in paragraph (1), by inserting ``or the Federal Banking 
     Commission,'' after ``the Chairperson of the Thrift Depositor 
     Protection Oversight Board''; and
       (B) in paragraph (2), by inserting ``the Federal Banking 
     Commission,'' after ``the Environmental Protection Agency,''.
       (b) Certain Limitations of Inspector General Act 
     Inapplicable.--
       (1) In general.--Notwithstanding section 6(a)(7) of the 
     Inspector General Act of 1978, the Inspector General of the 
     Commission, in carrying out the provisions of the Inspector 
     General Act of 1978, may select, appoint, and employ such 
     officers and employees as may be necessary for carrying out 
     the functions, powers, and duties of the Office of the 
     Inspector General without regard to the provisions of chapter 
     51 and subchapter III of chapter 53 of title 5, United States 
     Code, relating to position classification and General 
     Schedule pay rates.
       (2) Reporting requirement.--The annual report required by 
     section 303(b)(3) of this Act (relating to the pay structure 
     for employees of the Commission) shall set forth the position 
     classifications and pay rates for employees of the Office of 
     the Inspector General.
       (c) Certain Special Provisions of Inspector General Act 
     Applicable.--Section 8C(a) of the Inspector General Act of 
     1978 (other than the provisions of subparagraphs (A), (B), 
     (C), and (E) of section 8C(a)(1)) shall apply to the 
     Inspector General of the Commission and to the Commission in 
     the same manner as it applies to the Inspector General of the 
     Department of the Treasury and the Secretary of the Treasury, 
     respectively.

     SEC. 314. LEGISLATIVE AND REGULATORY COORDINATION.

       (a) Legislative Recommendations, Testimony, and Comments.--
     The Commission shall be considered to be an agency within the 
     Executive branch for purposes of the coordination and 
     clearance of legislative recommendations, testimony, and 
     comments respecting matters of a general policy nature.
       (b) Regulations.--
       (1) In general.--The Commission shall submit to the 
     Director of the Office of Management and Budget for review 
     any significant proposed or final regulation before 
     publishing it.
       (2) OMB recommendations.--The Director may recommend 
     changes to the proposed or final regulation submitted to him 
     under paragraph (1).
       (3) Commission prerogative.--The Commission may, by a 
     majority vote of its members, decline to incorporate the 
     changes recommended by the Director under paragraph (2).
       (4) Report to the president.--If the Commission declines to 
     incorporate the recommended changes of the Director, the 
     Commission shall communicate the reasons for doing so to the 
     President.

                   TITLE IV--TRANSITIONAL PROVISIONS

     SEC. 401. COMMISSION'S INTERIM AUTHORITY.

       Before the designated transfer date, the Commission shall--
       (1) consult and cooperate with the Comptroller of the 
     Currency, the Director of the Office of Thrift Supervision, 
     the Chairman of the Board of Governors, and the Chairperson 
     of the Federal Deposit Insurance Corporation to facilitate 
     the orderly transfer of functions to the Commission;
       (2) determine and redetermine, from time to time--
       (A) the amount of funds necessary to pay the expenses of 
     the Commission (including expenses for personnel, property, 
     and administrative services) during the period beginning on 
     the date of enactment of this Act and ending on the 
     designated transfer date;
       (B) what personnel are appropriate to facilitate the 
     orderly transfer of functions by this Act; and
       (C) what property and administrative services are necessary 
     to support the Commission during the period beginning on the 
     date of enactment of this Act and ending on the designated 
     transfer date; and
       (3) take such actions as may be necessary to provide for 
     the orderly implementation of this Act.

     SEC. 402. FEDERAL BANKING AGENCIES' INTERIM RESPONSIBILITIES.

       (a) In General.--When requested by the Commission to do so 
     before the designated transfer date, the Office of the 
     Comptroller of the Currency, the Office of Thrift 
     Supervision, the Board of Governors, and the Federal Deposit 
     Insurance Corporation shall each--
       (1) pay to the Commission, from funds obtained by those 
     agencies through assessments, fees, or other charges that 
     they are authorized by law to impose, one-quarter of the 
     total amount that the Commission determines to be necessary 
     under section 401(2)(A);
       (2) detail to the Commission such personnel as the 
     Commission determines to be appropriate under section 
     401(2)(B), subject to reimbursement; and
       (3) make available to the Commission such property and 
     provide the Commission such administrative services as the 
     Commission determines to be necessary under section 
     401(2)(C), in each case subject to reimbursement.
       (b) Notice Required.--The Commission shall give the Office 
     of the Comptroller of the Currency, the Office of Thrift 
     Supervision, the Board of Governors, and the Federal Deposit 
     Insurance Corporation reasonable prior notice of any request 
     that the Commission intends to make under subsection (a).

     SEC. 403. EMPLOYEES TRANSFERRED.

       (a) In General.--
       (1) All occ and ots employees transferred.--All employees 
     of the Office of the Comptroller of the Currency and the 
     Office of Thrift Supervision shall be transferred to the 
     Commission for employment.
       (2) Certain federal reserve system employees transferred.--
       (A) Identifying employees for transfer.--The Commission and 
     the Board of Governors shall--
       (i) jointly determine the number of employees of the Board 
     necessary to perform or support the functions of the Board of 
     Governors that are transferred to the Commission by this Act; 
     and
       (ii) consistent with the number determined under clause 
     (i), jointly identify employees of the Board of Governors for 
     transfer to the Commission in a manner that the Commission 
     and the Board of Governors, in their sole discretion, deem 
     equitable.
       (B) Identified employees transferred.--All employees of the 
     Board of Governors identified under subparagraph (A)(ii) 
     shall be transferred to the Commission for employment.
       (C) Federal reserve bank employees.--Employees of any 
     Federal reserve bank who, on the day before the designated 
     transfer date, are performing functions on behalf of the 
     Board of Governors shall be treated as employees of the Board 
     of Governors for purposes of subparagraphs (A) and (B).
       (D) Special rule for any joint determination before first 
     appointed commissioner is appointed.--Until the first 
     appointed commissioner is appointed and qualified, the 
     commissioner from the Board of Governors shall not 
     participate in the Commission's part of the joint 
     determination to be made under subparagraph (A).
       (3) Certain fdic employees transferred.--
       (A) Identifying employees for transfer.--The Commission and 
     the Board of Directors of the Federal Deposit Insurance 
     Corporation shall--
       (i) jointly determine the number of employees of that 
     Corporation necessary to perform or support the functions of 
     the Corporation that are transferred to the Commission by 
     this Act; and
       (ii) consistent with the number determined under clause 
     (i), jointly identify employees of the Corporation for 
     transfer to the Commission in a manner that the Commission 
     and the Board of Directors of the Corporation, in their sole 
     discretion, deem equitable.
       (B) Identified employees transferred.--All employees of the 
     Corporation identified under subparagraph (A)(ii) shall be 
     transferred to the Commission for employment.
       (4) Certain ffiec employees transferred.--All employees of 
     the Federal Financial Institutions Examination Council, other 
     than the employees of the Appraisal Committee (as 
     redesignated by section 205 of this Act), shall be 
     transferred to the Commission for employment.
       (b) Timing of Transfers and Position Assignments.--Each 
     employee to be transferred under this section shall--
       (1) be transferred not later than 90 days after the 
     designated transfer date; and
       (2) receive notice of his or her position assignment not 
     later than 120 days after the effective date of his or her 
     transfer.
       (c) Transfer of Function.--
       (1) In general.--Notwithstanding any other provision of 
     law, the transfer of employees shall be deemed a transfer of 
     functions for the purpose of section 3503 of title 5, United 
     States Code.
       (2) Priority of this act.--If any protection provided under 
     this Act conflicts with any protection provided to 
     transferred employees under section 3503 of title 5, United 
     States Code, the provisions of this Act shall control.
       (d) Employees' Status and Eligibility.--
       (1) Employees of abolished agencies.--The transfer of 
     functions and employees under this Act, and the abolition of 
     the Office of the Comptroller of the Currency, the Office of 
     Thrift Supervision, and the Federal Financial Institutions 
     Examination Council, shall not affect the status of the 
     transferred employees as employees of an agency of the United 
     States under any provision of law.
       (2) Non-citizen employees.--Non-citizen employees 
     transferred under this section shall, while employed by the 
     Commission, be eligible for competitive appointments if other 
     employees performing the same functions receive competitive 
     appointments.
       (e) Equal Status and Tenure Positions.--
       (1) Employees transferred from occ, ots, fdic, and ffiec.--
     Each employee transferred from the Office of the Comptroller 
     of the Currency, the Office of Thrift Supervision, the 
     Federal Deposit Insurance Corporation, or the Federal 
     Financial Institutions Examination Council shall be placed in 
     a position with the same status and tenure as that held on 
     the day before the designated transfer date.
       (2) Employees transferred from the federal reserve 
     system.--
       (A) Comparability.--Each employee transferred from the 
     Board of Governors or from a Federal reserve bank shall be 
     placed in a position with the same status and tenure as that 
     of employees transferring to the Commission from the Office 
     of the Comptroller of the Currency who perform similar 
     functions and have similar periods of service.
       (B) Service periods credited.--For purposes of this 
     paragraph, periods of service with the Board of Governors or 
     a Federal reserve bank shall be credited as periods of 
     service with a Federal agency.
       (f) Additional Certification Requirements Limited.--
     Examiners transferred to the Commission shall not be subject 
     to any additional training or certification requirements 
     before being placed in a comparable examiner's position at 
     the Commission examining the same types of institutions as 
     they examined before they were transferred.
       (g) Personnel Actions Limited.--
       (1) 1-year protection.--Except as provided in paragraph 
     (2), each transferred employee holding a permanent position 
     shall not, during the 1-year period beginning on the 
     designated transfer date, be involuntarily separated, or 
     involuntarily reassigned outside his or her local commuting 
     area.
       (2) Exceptions.--Paragraph (1) does not limit the 
     Commission's right to--
       (A) separate an employee for cause or for unacceptable 
     performance;
       (B) terminate an appointment to a position excepted from 
     the competitive service because of its confidential policy-
     making, policy-determining, or policy-advocating character; 
     or
       (C) reassign a supervisory employee outside his or her 
     local commuting area when the Commission determines that the 
     reassignment is necessary for the Commission's efficient 
     operation.
       (h) Pay.--
       (1) 1-year protection.--Except as provided in paragraph 
     (2), each transferred employee shall, during the 1-year 
     period beginning on the designated transfer date, receive pay 
     at a rate not less than the basic rate of pay (including any 
     geographic differential) that the employee received during 
     the 1-year period immediately before the transfer.
       (2) Exceptions.--Paragraph (1) does not limit the 
     Commission's right to reduce a transferred employee's rate of 
     basic pay--
       (A) for cause;
       (B) for unacceptable performance; or
       (C) with the employee's consent.
       (3) Protection only while employed.--Paragraph (1) applies 
     to a transferred employee only while that employee remains 
     employed by the Commission.
       (4) Pay increases permitted.--Paragraph (1) does not limit 
     the authority of the Commission to increase a transferred 
     employee's pay.
       (i) Reorganization.--
       (1) Between 1st and 3rd year.--
       (A) In general.--If the Commission determines, during the 
     period beginning 1 year after the designated transfer date 
     and ending 3 years after the designated transfer date, that a 
     reorganization of the Commission's staff is required--
       (i) that reorganization shall be deemed a ``major 
     reorganization'' for purposes of affording affected employees 
     retirement under section 8336(d) or 8414(b)(1)(B) of title 5, 
     United States Code;
       (ii) before the reorganization occurs, all employees in the 
     same commuting area shall be placed in a uniform position 
     classification system; and
       (iii) any resulting reduction in force shall be governed by 
     the provisions of chapter 35 of title 5, United States Code, 
     except that the Commission shall--

       (I) establish competitive areas (as that term is defined in 
     regulations issued by the Office of Personnel Management) to 
     include at a minimum all employees in the same commuting 
     area;
       (II) establish competitive levels (as that term is defined 
     in regulations issued by the Office of Personnel Management) 
     without regard to whether the particular employees have been 
     appointed to positions in the competitive service or the 
     excepted service; and
       (III) afford employees appointed to positions in the 
     excepted service (other than to a position excepted from the 
     competitive service because of its confidential policy-
     making, policy-determining, or policy-advocating character) 
     the same assignment rights to positions within the Commission 
     as employees appointed to positions in the competitive 
     service.

       (B) Service credit for reductions in force.--For purposes 
     of this paragraph, periods of service with a Federal home 
     loan bank, a joint office of the Federal home loan banks, the 
     Board of Governors, a Federal reserve bank, the Federal 
     Deposit Insurance Corporation, or the Federal Financial 
     Institutions Examination Council shall be credited as periods 
     of service with a Federal agency.
       (2) After 3rd year.--
       (A) In general.--If the Commission determines, at any time 
     after the 3-year period beginning on the designated transfer 
     date, that a reorganization of the Commission's staff is 
     required, any resulting reduction in force shall be governed 
     by the provisions of chapter 35 of title 5, United States 
     Code, except that the Commission shall--
       (i) establish competitive levels (as that term is defined 
     in regulations issued by the Office of Personnel Management) 
     without regard to types of appointment held by particular 
     employees transferred under this section; and
       (ii) afford employees transferred under this section who 
     were appointed to positions in the excepted service (other 
     than to a position excepted from the competitive service 
     because of its confidential policy-making, policy-
     determining, or policy-advocating character) the same 
     assignment rights to positions within the Commission as 
     employees appointed to positions in the competitive service.
       (B) Service credit for reductions in force.--For purposes 
     of this paragraph, periods of service with a Federal home 
     loan bank, a joint office of the Federal home loan banks, the 
     Board of Governors, a Federal reserve bank, the Federal 
     Deposit Insurance Corporation, or the Federal Financial 
     Institutions Examination Council shall be credited as periods 
     of service with a Federal agency.
       (j) Benefits.--
       (1) Retirement benefits for transferred employees.--
       (A) In general.--
       (i) Continuation of existing retirement plan.--Except as 
     provided in subparagraph (B), each transferred employee shall 
     remain enrolled in his or her existing retirement plan as 
     long as he or she remains employed by the Commission.
       (ii) Employer's contribution.--The Commission shall pay any 
     employer contributions to the existing retirement plan of 
     each transferred employee as required under that plan.
       (B) Option for employees transferred from federal reserve 
     system or ffiec to be subject to federal employee retirement 
     program.--
       (i) Election.--Any transferred employee who was enrolled in 
     a Federal Reserve System retirement plan on the day before 
     his or her transfer to the Commission may, during the period 
     beginning 6 months after the designated transfer date and 
     ending 1 year after the designated transfer date, elect to be 
     subject to the Federal employee retirement program.
       (ii) Effective date of coverage.--For any employee making 
     an election under clause (i), coverage by the Federal 
     employee retirement program shall begin 1 year after the 
     designated transfer date.
       (C) Commission participation in federal reserve system 
     retirement plan.
       (i) Separate account in federal reserve system retirement 
     plan established.--A separate account in the Federal Reserve 
     System retirement plan shall be established for Commission 
     employees who do not make the election under subparagraph 
     (B).
       (ii) Funds attributable to transferred employees remaining 
     in federal reserve system retirement plan transferred.--The 
     proportionate share of funds in the Federal Reserve System 
     retirement plan, including the proportionate share of any 
     funding surplus in that plan, attributable to a transferred 
     employee who does not make the election under subparagraph 
     (B), shall be transferred to the account established under 
     clause (i).
       (iii) Employer contributions deposited.--The Commission 
     shall deposit into the account established under clause (i) 
     the employer contributions that the Commission makes on 
     behalf of employees who do not make the election under 
     subparagraph (B).
       (iv) Account administration.--The Commission shall 
     administer the account established under clause (i) as a 
     participating employer in the Federal Reserve System 
     retirement plan.
       (D) Definitions.--For purposes of this paragraph, the 
     following definitions shall apply:
       (i) The term ``existing retirement plan'' means, with 
     respect to any employee transferred under this section, the 
     particular retirement plan (including the Financial 
     Institutions Retirement Fund) and any associated thrift 
     savings plan of the agency or Federal reserve bank from which 
     the employee was transferred, which the employee was enrolled 
     in on the day before the designated transfer date.
       (ii) The term ``Federal employee retirement program'' means 
     the retirement program for Federal employees established by 
     chapters 83 and 84 of title 5, United States Code.
       (2) Benefits other than retirement benefits.--
       (A) For transferred employees.--
       (i) During 1st year.--

       (I) Existing plans continue.--Each transferred employee 
     may, for 1 year after the designated transfer date, retain 
     membership in any other employee benefit program of the 
     agency or bank from which the employee transferred, including 
     a health or life insurance program, to which the employee 
     belonged on the day before the designated transfer date.
       (II) Commission's contribution.--The Commission shall 
     reimburse the agency or bank from which an employee was 
     transferred for any cost incurred by that agency or bank in 
     continuing to extend coverage in the benefit program to the 
     employee.

       (ii) After 1st year.--If, after the 1-year period beginning 
     on the designated transfer date, the Commission decides not 
     to continue participation in any health or life insurance 
     program of an agency or bank from which employees 
     transferred, a transferred employee who is a member of such a 
     program may, before the Commission's decision takes effect, 
     elect to enroll in--

       (I) the Federal Employees Health Benefits Program 
     established by chapter 89 of title 5, United States Code, 
     without regard to any regularly scheduled open season and 
     notwithstanding health conditions pre-existing at the time; 
     and
       (II) the Federal Employees Group Life Insurance Program 
     established by chapter 87 of title 5, United States Code, 
     without regard to any regularly scheduled open season and 
     requirement of insurability.

       (B) OCC and ots retirees and near-retirees.--
       (i) Special provisions to ensure continuation of health 
     benefits.--

       (I) In general.--An individual covered by a health benefit 
     plan administered by the Office of the Comptroller of the 
     Currency or the Office of Thrift Supervision on the day 
     before the designated transfer date, who is--

       (aa) an annuitant (as defined in section 8901(3) of title 
     5, United States Code);
       (bb) eligible for temporary continuation of coverage under 
     section 8905a of title 5, United States Code; or
       (cc) a dependent child of an employee transferred under 
     this section or of an individual described in subclauses (aa) 
     or (bb);

     shall be eligible for enrollment in a health benefits plan 
     under chapter 89 of title 5, United States Code, 
     notwithstanding sections 8905(b) and 8905a(b)(2)(B) of title 
     5, United States Code, or in a health benefits plan 
     established by the Commission, without regard to any 
     regularly scheduled open season and notwithstanding health 
     conditions pre-existing at the time of such enrollment. An 
     individual described in subclause (I)(cc) shall be eligible 
     for health benefits under this subparagraph only during the 
     period for which the individual would have been eligible for 
     coverage under the health benefits plan under which he or she 
     was covered on the day before the designated transfer date.
       (II) Employee's contribution.--An individual entitled to 
     enroll in a health benefits plan under this subparagraph 
     shall pay any employee contribution required by the plan.
       (III) Additional funding.--The Commission shall transfer to 
     the Federal Employees Health Benefits Fund established under 
     section 8909 of title 5, United States Code, an amount 
     determined by the Director of the Office of Personnel 
     Management, after consultation with the Commission and the 
     Office of Management and Budget, to be necessary to reimburse 
     the Fund for the cost to the Fund of providing benefits under 
     this subparagraph not otherwise paid for by the employee 
     under subclause (II).

       (IV) Credit for time enrolled in other plans.--For 
     employees transferred under this section, enrollment in a 
     health benefits plan administered by the Office of the 
     Comptroller of the Currency, the Officer of Thrift 
     Supervision, the Federal Deposit Insurance Corporation, the 
     Board of Governors, a Federal reserve bank, or the Commission 
     immediately prior to enrollment in a health benefits plan 
     under chapter 89 of title 5, United States Code, shall be 
     considered as enrollment in a health benefits plan under that 
     chapter for purposes of section 8905(b)(1)(A) of title 5, 
     United States Code.

       (ii) Special provisions to ensure continuation of life 
     insurance benefits.--

       (I) In general.--An annuitant (as defined in section 
     8901(3) of title 5, United States Code) who is enrolled in a 
     life insurance plan administered by the Office of the 
     Comptroller of the Currency or the Office of Thrift 
     Supervision on the day before the designated transfer date 
     shall be eligible for coverage by a life insurance plan under 
     section 8706(b), 8714a, 8714b, and 8714c of title 5, United 
     States Code, or in a life insurance plan established by the 
     Commission, without regard to any regularly scheduled open 
     season and requirement of insurability.
       (II) Employee contribution.--An individual entitled to 
     enroll in a life insurance plan under this clause shall pay 
     an employee contribution required by the plan.
       (III) Additional funding.--The Commission shall transfer to 
     the Employees' Life Insurance Fund established under section 
     8714 of title 5, United States Code, an amount determined by 
     the Director of the Office of Personnel Management, after 
     consultation with the Commission and the Office of Management 
     and Budget, to be necessary to reimburse the Fund for the 
     cost to the Fund of providing benefits under this 
     subparagraph not otherwise paid for by the employee under 
     subclause (II).
       (IV) Credit for time enrolled in other plans.--For 
     employees transferred under this section, enrollment in a 
     life insurance plan administered by the Office of the 
     Comptroller of the Currency, the Office of Thrift 
     Supervision, the Federal Deposit Insurance Corporation, the 
     Board of Governors, a Federal reserve bank, or the Commission 
     immediately prior to enrollment in a life insurance plan 
     under chapter 87 of title 5, United States Code, shall be 
     considered as enrollment in a life insurance plan under that 
     chapter for purposes of section 8706(b)(1)(A) of title 5, 
     United States Code.

       (k) Implementation of Uniform Pay and Classification 
     System.--Not later than 2 years after the designated transfer 
     date, the Commission shall implement a uniform pay and 
     classification system for all transferred employees.
       (l) Equitable Treatment.--In administering the provisions 
     of this section, the Commission--
       (1) shall take no action that would unfairly disadvantage 
     transferred employees relative to each other based on their 
     prior employment by the Office of the Comptroller of the 
     Currency, the Office of Thrift Supervision, the Federal 
     Deposit Insurance Corporation, a Federal home loan bank, a 
     joint office of the Federal home loan banks, the Board of 
     Governors, a Federal reserve bank, or the Federal Financial 
     Institutions Examination Council; and
       (2) may take such action as is appropriate in individual 
     cases so that employees transferred under this section 
     receive equitable treatment, with respect to those employees' 
     status, tenure, pay, benefits (other than benefits under 
     programs administered by the Office of Personnel Management), 
     and accrued leave or vacation time, for prior periods of 
     service with any Federal agency, a Federal home loan bank, a 
     joint office of the Federal home loan banks, the Board of 
     Governors, a Federal reserve bank, the Federal Deposit 
     Insurance Corporation, or the Federal Financial Institutions 
     Examination Council.
       (m) No Private Right of Act.--This section does not provide 
     any transferred employee with any right of action to require 
     the Commission or any officer or employee of the Commission 
     to take any action under this section.

     SEC. 404. PROPERTY TRANSFERRED.

       (a) In General.--
       (1) OCC and ots property.--Not later than 90 days after the 
     designated transfer date, all property of the Office of the 
     Comptroller of the Currency and the Office of Thrift 
     Supervision shall be transferred to the Commission.
       (2) Federal reserve system property.--
       (A) In general.--Not later than 90 days after the 
     designated transfer date, all property of the Board of 
     Governors that, on the day before the designated transfer 
     date, is used to perform or support the functions of the 
     Board of Governors transferred to the Commission by this Act, 
     shall be transferred to the Commission.
       (B) Federal reserve bank property.--Property of any Federal 
     reserve bank that, on the day before the designated transfer 
     date, is used to perform or support the functions of the 
     Board of Governors transferred to the Commission by this Act, 
     shall be treated as property of the Board of Governors for 
     purposes of subparagraph (A).
       (3) FDIC property.--Not later than 90 days after the 
     designated transfer date, all property of the Corporation 
     that, on the day before the designated transfer date, is used 
     to perform or support the functions of the Corporation 
     transferred to the Commission by this Act, shall be 
     transferred to the Commission.
       (b) Contracts related to property transferred.--All 
     contracts, agreements, leases, licenses, permits, and similar 
     arrangements relating to property transferred to the 
     Commission by this section shall be transferred to the 
     Commission together with that property.
       (c) Preservation of Property.--Property identified for 
     transfer under this section shall not be altered, destroyed, 
     or deleted before transfer under this section.
       (d) Property Defined.--For purposes of this section, the 
     term ``property'' includes all real property (including 
     leaseholds) and all personal property (including computers, 
     furniture, fixtures, equipment, books, accounts, records, 
     reports, files, memoranda, paper, reports of examination, 
     work papers and correspondence related to such reports, and 
     any other information or materials).

     SEC. 405. FUNDS TRANSFERRED.

       Except to the extent needed to dispose of affairs under 
     section 406, all funds that, on the day before the designated 
     transfer date, are available to the Comptroller of the 
     Currency and the Director of the Office of Thrift Supervision 
     to pay the expenses of the Office of the Comptroller of the 
     Currency and the Office of Thrift Supervision shall be 
     transferred to the Commission on the designated transfer 
     date.

     SEC. 406. DISPOSITION OF AFFAIRS.

       (a) In General.--During the 90-day period beginning on the 
     designated transfer date, the Comptroller of the Currency, 
     the Director of the Office of Thrift Supervision, the Board 
     of Governors, and the Board of Directors of the Federal 
     Deposit Insurance Corporation--
       (1) shall, solely for the purpose of winding up the affairs 
     of their respective agencies related to any function 
     transferred to the Commission by this Act--
       (A) manage the employees of those agencies and provide for 
     the payment of the compensation and benefits of any such 
     employee that accrue before the designated transfer date; and
       (B) manage any property of those agencies until the 
     property is transferred under section 404; and
       (2) take any other action necessary to wind up the affairs 
     of their respective agencies relating to the transferred 
     functions.
       (b) Authority and Status of Executives.--
       (1) In general.--Notwithstanding the transfers of functions 
     under this Act, the Comptroller of the Currency, the Director 
     of the Office of Thrift Supervision, the Board of Governors, 
     and the Board of Directors of the Federal Deposit Insurance 
     Corporation shall, during the 90-day period beginning on the 
     designated transfer date, retain and may exercise any 
     authority vested in those persons on the day before the 
     designated transfer date that is necessary to carry out the 
     requirements of this Act during that period.
       (2) Other provisions.--For purposes of paragraph (1), the 
     Comptroller of the Currency and the Director of the Office of 
     Thrift Supervision shall, during the 90-day period beginning 
     on the designated transfer date, continue to be--
       (A) treated as officers of the United States; and
       (B) entitled to receive compensation at the same annual 
     rate of basic pay that they were receiving on the day before 
     the designated transfer date.

     SEC. 407. CONTINUATION OF SERVICES.

       Any agency, department, or other instrumentality of the 
     United States, and any successor to any such agency, 
     department, or instrumentality, that was, before the 
     designated transfer date, providing support services to the 
     Office of the Comptroller of the Currency, the Office of 
     Thrift Supervision, the Board of Governors, or the Federal 
     Deposit Insurance Corporation in connection with functions to 
     be transferred to the Commission, shall--
       (1) continue to provide those services, subject to 
     reimbursement, until the transfer of those functions is 
     complete; and
       (2) consult with any such agency to coordinate and 
     facilitate a prompt and orderly transition.

    TITLE V--CONFORMING AMENDMENTS TO FEDERAL DEPOSIT INSURANCE ACT

     SEC. 501. AMENDMENTS TO SECTION 2.

       Section 2 of the Federal Deposit Insurance Act (12 U.S.C. 
     1812) is amended--
       (a) in subsection (a)(1)--
       (1) in subparagraph (A), by striking ``Comptroller of the 
     Currency'' and inserting ``Chairperson of the Federal Banking 
     Commission''; and
       (2) in subparagraph (B), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Secretary of 
     the Treasury (or the Secretary's designee)'';
       (b) by amending subsection (d)(2) to read as follows:
       ``(2) Acting Officials May Serve.--In the event of a 
     vacancy in the office of the Chairperson of the Federal 
     Banking Commission and pending the appointment of a 
     successor, or during the absence or disability of the 
     Chairperson, the acting Chairperson of the Federal Banking 
     Commission shall be a member of the Board of Directors in the 
     place of the Chairperson of the Federal Banking Commission. 
     In the event of a vacancy in the office of the Secretary of 
     the Treasury and pending the appointment of a successor, or 
     during the absence or disability of the Secretary, the Deputy 
     Secretary of the Treasury, or his or her designee, shall be a 
     member of the Board of Directors in the place of the 
     Secretary of the Treasury.''; and
       (c) in subsection (f)(2), by striking ``Office of the 
     Comptroller of the Currency or of the Office of Thrift 
     Supervision'' and inserting ``Federal Banking Commission or 
     the Department of the Treasury''.

     SEC. 502. AMENDMENTS TO SECTION 3.

       Section 3 of the Federal Deposit Insurance Act (12 U.S.C. 
     1813) is amended--
       (a) in subsection (b)(1)(C), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission'';
       (b) in subsection (l)(5), in the introductory text, by 
     striking ``Comptroller of the Currency, Director of the 
     Office of Thrift Supervision,'' and inserting 
     ``Commission,'';
       (c) by amending subsection (q) to read as follows:
       ``(q) Commission.--The term `Commission' means the Federal 
     Banking Commission.'';
       (d) in subsection (u)--
       (1) in paragraph (2), by striking ``appropriate Federal 
     banking agency and inserting ``Commission,''; and
       (2) in paragraph (3), by striking ``appropriate Federal 
     banking agency and inserting ``Commission'';
       (e) in subsection (x)--
       (1) in paragraph (1), by striking ``appropriate Federal 
     banking agency and inserting ``Commission,''; and
       (2) in paragraph (2)--
       (A) by striking ``appropriate Federal banking agency'' the 
     first place it appears and inserting ``Commission''; and
       (B) by striking ``(or, if the appropriate Federal banking 
     agency is the Corporation, the Corporation has determined)''; 
     and
       (f) by amending subsection (z) to read as follows:
       ``(z) Federal Banking Agency.--The term `Federal banking 
     agency' means the Federal Deposit Insurance Corporation, the 
     Federal Banking Commission, or the Board of Governors of the 
     Federal Reserve System.''.

     SEC. 503. AMENDMENTS TO SECTION 5.

       Section 5 of the Federal Deposit Insurance Act (12 U.S.C. 
     1815) is amended--
       (a) in subsection (a)--
       (1) in paragraph (2)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``agency'' and inserting ``Commission''; 
     and
       (2) in paragraph (5), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (b) in subsection (d)(3)--
       (1) in subparagraph (A)--
       (A) by striking ``(i)''; and
       (B) by striking clause (ii);
       (2) in subparagraph (E)--
       (A) by amending clause (i) to read as follows:
       ``(i) Factors To Be Considered; Approval Process.--In 
     reviewing any application for a proposed transaction under 
     subparagraph (A), the Commission shall follow the procedures 
     and consider the factors set forth in section 18(c) of this 
     Act.'';
       (B) in clause (ii), by striking ``responsible agency or 
     Board'' and inserting ``Commission'';
       (C) in clause (iv)--

       (i) by striking ``responsible agency and the appropriate 
     Federal banking agency for any depository institution holding 
     company,'' and inserting ``Commission''; and
       (ii) by striking ``each such agency'' and inserting ``the 
     Commission'';

       (3) in subparagraph (F), by deleting ``Board'' each place 
     it appears and inserting ``Commission; and''; and
       (4) by striking subparagraphs (G) and (K) and redesignating 
     subparagraphs (H), (I), and (J), as subparagraphs (g), (H), 
     and (I), respectively; and
       (c) in subsection (e)(2)(B), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission''.

     SEC. 504. AMENDMENTS TO SECTION 7.

       Section 7 of the Federal Deposit Insurance Act (12 U.S.C. 
     1817) is amended--
       (a) in subsection (a)--
       (1) in paragraph (1)--
       (A) by striking ``Corporation'' each place it appears and 
     inserting ``Commission'';
       (B) by striking ``Board of Directors'' each place it 
     appears and inserting ``Commission''; and
       (C) in the third sentence, by striking ``Board'' and 
     inserting ``Commission'';
       (2) in paragraph (2)--
       (A) in subparagraph (A)--

       (i) in the first sentence, by striking ``Comptroller of the 
     Currency, the Director of the Office of Thrift Supervision'' 
     and inserting ``Commission''; and
       (ii) in the second sentence--

       (I) by striking ``Comptroller of the Currency, the Director 
     of the Office of Thrift Supervision'' and inserting 
     ``Commission''; and
       (II) by striking '', and reports of condition made to,''; 
     and
       (B) in subparagraph (B), by striking ``Comptroller of the 
     Currency, the Board of Governors of the Federal Reserve 
     System, and the Director of the Office of Thrift Supervision, 
     as appropriate,'' and inserting ``Commission,'';
       (3) in the first sentence of paragraph (3)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``Chairman of the Board of Directors, the 
     Comptroller of the Currency, the Chairman of the Board of 
     Governors of the Federal Reserve System, and the Chairman of 
     the Director of the Office of Thrift Supervision'' and 
     inserting ``Chairperson of the Board of Directors and the 
     Chairperson of the Commission'';
       (4) in paragraph (7), by striking ``Comptroller of the 
     Currency, the Director of the Office of Thrift Supervision, 
     and the Board of Governors of the Federal Reserve System,'' 
     and inserting ``Commission''; and
       (5) in paragraph (8), by striking ``the Comptroller of the 
     Currency, as the case may be,'' and inserting ``Commission'';
       (b) in subsection (j)--
       (1) in paragraph (1)--
       (A) in the first sentence, by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (B) by striking ``agency'' each place it appears and 
     inserting ``Commission''; and
       (C) in subparagraph (B), by striking ``agency's'' and 
     inserting ``Commission's'';
       (2) in paragraph (2)--
       (A) in subparagraph (A)--

       (i) by striking ``appropriate Federal banking agency'' each 
     place it appears and inserting ``Commission''; and
       (ii) by striking ``such Federal banking agency'' each place 
     it appears and inserting ``the Commission'';

       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (C) in subparagraph (C)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (ii) by striking ``agency'' and inserting ``Commission''; 
     and

       (D) in subparagraph (D)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission'';
       (ii) by striking ``such agency'' and inserting ``the 
     Commission''; and
       (iii) by striking ``agency'' and inserting ``Commission'';

       (3) in paragraph (3) by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (4) in paragraph (4), by striking ``appropriate Federal 
     banking agency'' each place it appears and inserting ``the 
     Commission'';
       (5) in paragraph (5), by striking ``appropriate Federal 
     banking agency'' each place it appears and inserting 
     ``Commission'';
       (6) in paragraph (6)--
       (A) in the introductory text, by striking ``appropriate 
     Federal banking agency'' and inserting ``the Commission''; 
     and
       (B) in subparagraph (H), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (7) in paragraph (7)--
       (A) in the introductory text, by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (B) in subparagraph (E), by striking ``appropriate Federal 
     banking agency'' each place it appears and inserting 
     ``Commission''; and
       (C) in subparagraph (F), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (8) in paragraph (9)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency for such insured depository institution'' and 
     inserting ``Commission'';
       (B) in subparagraph (D)--

       (i) by striking clause (iii);
       (ii) in clause (iv)--

       (I) by striking ``Each appropriate Federal banking agency'' 
     and inserting ``The Commission''; and
       (II) by striking ``agency's'' and inserting 
     ``Commission's''; and

       (iii) by redesignating clause (iv) as clause (iii); and

       (C) in subparagraph (E), by striking ``appropriate Federal 
     banking agency for the insured depository institution'' each 
     place it appears and inserting ``Commission'';
       (9) in paragraph (10), by striking ``appropriate Federal 
     banking agency'' and inserting ``the Commission'';
       (10) by amending paragraph (11) to read as follows:
       ``(11) The Commission shall immediately furnish to the 
     Corporation a copy of any notice or report filed pursuant to 
     paragraph (1).''
       (11) in paragraph (12), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (12) in paragraph (13), by striking ``appropriate Federal 
     banking agencies are'' and inserting ``Commission is'';
       (13) in paragraph (14)--
       (A) by striking ``each appropriate Federal banking 
     agency's'' and inserting ``the Commission's''; and
       (B) by striking ``appropriate Federal banking agency'' each 
     place it appears and inserting ``Commission'';
       (14) in paragraph (15)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' each place it appears and inserting 
     ``Commission'';
       (B) in subparagraph (B)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (ii) by striking ``agency'' and inserting ``Commission''; 
     and

       (C) in subparagraph (C), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (15) in paragraph (16)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (B) in subparagraph (E), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (16) by redesignating paragraphs (12) through (18) as 
     paragraphs (11) through (17).
       (d) in subsection (k)--
       (1) in the heading, by striking ``Federal Banking Agency'' 
     and inserting ``Commission''; and
       (2) in the introductory text, by striking ``appropriate 
     Federal banking agencies are'' and inserting ``Commission 
     is''; and
       (e) by striking subsection (n).

     SEC. 505. AMENDMENTS TO SECTION 8.

       Section 8 of the Federal Deposit Insurance Act (12 U.S.C. 
     1818) is amended--
       (a) in subsection (a)--
       (1) in paragraph (2)(A)--
       (A) in the heading, by striking ``primary regulator'' and 
     inserting ``commission'';
       (B) in the first sentence--

       (i) by striking ``appropriate Federal banking agency with 
     respect to such institution (if other than the Corporation) 
     or'' and inserting ``Commission or, in the case of a state 
     depository institution,''; and
       (ii) by striking ``(if the Corporation is the appropriate 
     Federal banking agency)''; and

       (C) in the second sentence--

       (i) by striking ``appropriate Federal banking agency'' each 
     place it appears and inserting ``Commission''; and
       (ii) by striking ``such agency'' and inserting ``the 
     Commission'';

       (2) in paragraph (8)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency,'' each place it appears and inserting 
     ``Commission''; and
       (B) in subparagraph (B)(ii)--

       (i) in subclause (IV), by striking ``a Federal banking 
     agency'' and inserting ``the Commission''; and
       (ii) in the last sentence--

       (I) by striking ``Director of the Office of Thrift 
     Supervision'' each place it appears and inserting 
     ``Commission''; and
       (II) by inserting ``the Office of Thrift Supervision, as 
     successor to'' after ``as a successor to'' and before ``the 
     Federal Savings and Loan Insurance Corporation'';
       (b) in subsection (b)--
       (1) in paragraph (1)--
       (A) by striking the first sentence and inserting the 
     following: ``If, in the opinion of the Commission, any 
     insured depository institution, depository institution which 
     has insured deposits, or any institution-affiliated party is 
     engaging or has engaged, or the Commission has reasonable 
     cause to believe that the depository institution or any 
     institution-affiliated party is about to engage, in an unsafe 
     or unsound practice in conducting the business of such 
     depository institution, or is violating or has violated, or 
     the Commission has reasonable cause to believe that the 
     depository institution or any institution-affiliated party is 
     about to violate, a law, rule, or regulation, or any 
     condition imposed in writing by any Federal banking agency in 
     connection with the granting of any application or other 
     request by the depository institution or any written 
     agreement entered into with any Federal banking agency, the 
     Commission may issue and serve upon the depository 
     institution or such party a notice of charges in respect 
     thereof.'';
       (B) in the third sentence, by striking ``agency'' and 
     inserting ``Commission''; and
       (C) in the fifth sentence, by striking ``agency'' each 
     place it appears and inserting ``Commission'';
       (2) in paragraph (2), by striking ``agency'' and inserting 
     ``Commission'';
       (3) in paragraph (3), by striking the second sentence;
       (4) by amending paragraph (5) to read as follows:
       ``(5) This section shall apply to any national banking 
     association chartered by the Commission, including an 
     uninsured association.''
       (5) in paragraph (6)--
       (A) in subparagraph (A)(ii), by striking ``the appropriate 
     Federal banking agency'' and inserting ``any Federal banking 
     agency'';
       (B) in subparagraph (E), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (C) in subparagraph (F), by striking ``banking agency'' and 
     inserting ``Commission'';
       (6) in paragraph (8), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (c) in subsection (c)--
       (1) in paragraph (1)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``agency'' each place it appears and 
     inserting ``Commission'';
       (2) in paragraph (3)--
       (A) in subparagraph (A)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (ii) by striking ``agency'' and inserting ``Commission''; 
     and

       (B) in subparagraph (B)(ii)(II), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (d) in subsection (d), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (e) in subsection (e)--
       (1) in paragraph (1)--
       (A) by striking ``Whenever the appropriate Federal banking 
     agency'' and inserting ``Whenever the Commission'';
       (B) in subparagraph (A)(i)--

       (i) in subclause (III), by striking ``the appropriate 
     Federal banking agency'' and inserting ``any Federal banking 
     agency''; and
       (ii) in subclause (IV) by striking ``such agency'' and 
     inserting ``any Federal banking agency''; and

       (C) at the end--

       (i) by striking ``agency'' and inserting ``Commission''; 
     and
       (ii) by striking ``agency's'' and inserting 
     ``Commission's'';

       (2) in paragraph (2)--
       (A) in subparagraph (A)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission'';
       (ii) by striking ``agency'' and inserting ``Commission''; 
     and
       (iii) by striking ``agency's'' and inserting 
     ``Commission's''; and

       (B) in subparagraph (B), by striking ``agency'' and 
     inserting ``Commission'';
       (3) in paragraph (3)--
       (A) in subparagraph (A)--

       (i) by striking ``appropriate Federal banking agency'' each 
     place it appears and inserting ``Commission'';
       (ii) by striking ``such agency's'' and inserting ``the 
     Commission's''; and
       (iii) by striking ``agency'' and inserting ``Commission'';

       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (C) in subparagraph (C)--

       (i) by striking ``an appropriate Federal banking agency'' 
     and inserting ``the Commission''; and
       (ii) by striking ``agency'' and inserting ``Commission'';

       (4) in paragraph (4)--
       (A) by striking ``agency'' each place it appears and 
     inserting ``Commission''; and
       (B) by striking the fifth sentence;
       (5) in paragraph (6), by striking ``the appropriate Federal 
     banking agency'' and inserting ``any Federal banking 
     agency'';
       (6) in paragraph (7)--
       (A) in subparagraph (D)(i), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission''; and
       (B) in Subparagraph (F), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (f) in subsection (g)--
       (1) in paragraph (1)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (B) in subparagraphs (B), by striking ``Agency'' and 
     inserting ``Commission''; and
       (C) in subparagraph (C)--

       (i) in clause (i)--

       (I) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (II) by striking ``appropriate agency'' and inserting 
     ``Commission''; and

       (ii) in clause (ii)--

       (I) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission'';
       (II) by striking ``appropriate agency'' and inserting 
     ``Commission'';
       (2) in paragraph (2), in the second sentence, by striking 
     ``Comptroller of the Currency'' and inserting ``Commission''; 
     and
       (3) in paragraph (3)--
       (A) by striking ``agency'' each place it appears and 
     inserting ``Commission'';
       (B) in the second sentence, by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (C) in the fourth sentence, by striking ``agencys'' and 
     inserting ``Commission's''; and
       (D) in the fifth sentence, by striking ``Federal banking 
     agencies are'' and inserting ``Commission is'';
       (g) in subsection (h)--
       (1) in paragraph (1)--
       (A) by striking ``appropriate Federal banking agency or 
     Board of Governors of the Federal Reserve System'' and 
     inserting ``the Commission''; and
       (B) by striking ``issuing agency'' and inserting 
     ``Commission'';
       (2) in paragraph (2), by striking ``agency'' each place it 
     appears and inserting ``Commission''; and
       (3) in paragraph (3), by striking ``agency'' and inserting 
     ``Commission'';
       (h) in subsection (i)--
       (1) in paragraph (1), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (2) in paragraph (2)--
       (A) in subparagraph (A)--

       (i) in clause (iii), by striking ``the appropriate Federal 
     banking agency'' and inserting ``any Federal banking 
     agency''; and --

       (ii) in clause (iv), by striking ``such agency'' and 
     inserting ``any Federal banking agency'';

       (B) in subparagraph (E)(i), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (C) in subparagraph (F), by striking ``Any appropriate 
     Federal banking agency'' and inserting ``The Commission'';
       (D) in subparagraph (G), by striking ``appropriate agency'' 
     and inserting ``Commission'';
       (E) in subparagraph (I)(i), by striking ``agency that 
     imposed the penalty'' and inserting ``Commission''; and
       (F) in subparagraph (K), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Commission'';
       (3) in paragraph (3), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (4) in paragraph (4)(A)--
       (A) by striking ``an appropriate Federal banking agency 
     (excluding the Corporation when acting in a manner described 
     in section 11(d)(18))'' and inserting ``the Commission'';
       (B) by striking ``such agency'' each place it appears and 
     inserting ``the Commission''; and
       (C) by striking ``agency'' and inserting ``Commission'';
       (i) in subsection (j), by striking ``appropriate Federal 
     financial institutions regulatory agency'' and inserting 
     ``Commission'';
       (j) in subsection (l)--
       (1) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (2) by striking ``agency'' each place it appears and 
     inserting ``Commission'';
       (k) in subsection (m)--
       (1) in the first sentence--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``agency's'' and inserting 
     ``Commission's'';
       (2) by striking ``agency'' each place it appears and 
     inserting ``Commission''; and
       (3) in the second sentence, by striking ``Federal banking 
     agency'' and inserting ``Commission'';
       (l) in subsection (n), in the sixth sentence, by striking 
     ``appropriate'';
       (m) in subsection (o)--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Commission''; and
       (2) by striking ``Director of the Office of Thrift 
     Supervision'' and inserting ``Commission'';
       (n) in subsection(s)--
       (1) in paragraph (1), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Commission'';
       (2) in paragraph (2)(A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (3) in paragraph (3)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission'';
       (B) by striking ``such agency'' and inserting ``the 
     Commission''; and
       (C) by striking ``agency'' and inserting ``Commission'';
       (o) in subsection (t)--
       (1) in paragraph (1)--
       (A) by amending the heading to read as follows: 
     ``Recommending action by commission.''; and
       (B) by striking ``appropriate Federal banking agency'' each 
     place it appears and inserting ``Commission''; and
       (C) by striking ``agency'' and inserting ``Commission'';
       (2) in paragraph (2)--
       (A) in the heading, by striking ``appropriate federal 
     banking agency'' and inserting ``commission'';
       (B) in the introductory text--

       (I) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (II) by striking ``agency'' and inserting ``Commission'';

       (C) in subparagraph (B), by striking ``; or'' and inserting 
     ``;'';
       (D) in subparagraph (C), by striking the period at the end 
     and inserting ``; or''; and
       (E) by adding at the end a new subparagraph to read as 
     follows:
       ``(D) the insured depository institution is violating or 
     has violated, or the Corporation has reasonable cause to 
     believe that the depository institution or any institution-
     affiliated party is about to violate, a law, rule, or 
     regulation relating to the Corporation's deposit insurance, 
     conservatorship or receivership functions or any condition 
     imposed in writing by the Corporation in connection with the 
     granting of any application or other request by the 
     depository institution or any written agreement entered into 
     with the Corporation.'';
       (3) in paragraph (3)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency,'' and inserting ``Commission,''; and
       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agency,'' and inserting ``Commission,'';
       (4) in paragraph (4)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (5) in paragraph (5)--
       (A) in subparagraph (A)--

       (i) by striking ``an appropriate Federal banking agency 
     (including a Federal Reserve Bank)'' and inserting ``the 
     Commission (or a Federal Reserve Bank)''; and
       (ii) by striking ``chief officer of the appropriate Federal 
     banking agency'' and inserting ``Chairperson of the 
     Commission''; and

       (B) in subparagraph (B)--

       (i) by striking ``Each appropriate Federal banking agency'' 
     and inserting ``The Commission''; and
       (ii) by striking ``agency'' and inserting ``Commission'';

       (p) in subsection (u)--
       (1) in paragraph (1)--
       (A) in the introductory text, by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (B) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' each place it appears and inserting 
     ``Commission''; and
       (C) in subparagraph (B), by striking ``such agency'' and 
     inserting ``Commission'';
       (2) in paragraph (2), by striking ``a Federal banking 
     agency'' and inserting ``Commission'';
       (3) in paragraph (5)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``agency'' and inserting ``Commission'';
       (4) in paragraph (6)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``agency'' and inserting ``Commission''; 
     and
       (5) in paragraph (7)--
       (A) by striking ``Each Federal banking agency'' and 
     inserting ``The Commission''; and
       (B) by striking ``such agency'' and inserting ``the 
     Commission'';
       (q) in subsection (v)--
       (1) in paragraph (1), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (2) in paragraph (2)--
       (A) in subparagraph (A), by striking ``Any appropriate 
     Federal banking agency'' and inserting ``The Commission'';
       (B) in subparagraph (B)--

       (i) by striking ``Any appropriate Federal banking agency'' 
     and inserting ``The Commission''; and
       (ii) by striking ``such agency's'' and inserting ``The 
     Commission's'';

       (C) in subparagraph (C)--

       (i) in the introductory text, by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission''; and
       (ii) in clause (i), by striking ``any appropriate Federal 
     banking agency'' and inserting ``the Commission''; and

       (D) in subparagraph (D)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Federal banking agency''; and
       (ii) by striking ``any appropriate Federal banking agency'' 
     and inserting ``the Commission''; and

       (g) in subsection (w)(3)(A), by striking ``Office of Thrift 
     Supervision'' and inserting ``Commission''.

     SEC. 506. AMENDMENTS TO SECTION 10.

       Section 10 of the Federal Deposit Insurance Act (12 U.S.C. 
     1820) is amended--
       (a) in subsection (b)--
       (1) by striking paragraph (2)(A) and redesignating 
     paragraphs (2)(B) and (2)(C) as paragraphs (2)(A) and (2)(B), 
     respectively;
       (2) by striking paragraph (5) and redesignating paragraphs 
     (6) and (7) as paragraphs (5) and (6), respectively; and
       (3) in paragraph (5)(A) (as redesignated by paragraph (2) 
     of this subsection)--
       (A) by inserting ``or'' after ``(3),''; and
       (B) by striking ``; or (5)'';
       (b) in subsection (c), by striking ``the appropriate 
     Federal banking agency'' and inserting ``each Federal banking 
     agency''; and
       (c) in subsection (e)(1), by striking ``(b)(2), (b)(3), or 
     (d)'' and inserting ``(b)(2) or (b)(3)''.

     SEC. 507. AMENDMENTS TO SECTION 11.

       Section 11 of the Federal Deposit Insurance Act (12 U.S.C. 
     1821) is amended--
       (a) in subsection (c)--
       (1) in paragraph (2)--
       (A) in subparagraph (A)(ii), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission''; and
       (B) in subparagraph (D), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (2) in paragraph (5)(E), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission, the Corporation, 
     or the Board of Governors'';
       (3) in paragraph (6)--
       (A) in the heading, by striking ``director of the office of 
     thrift supervision'' and inserting ``commission'';
       (B) in subparagraph (A), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (C) in subparagraph (B), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission'';
       (4) in paragraph (9)--
       (A) in the heading, by striking ``Appropriate federal 
     banking agency'' and inserting ``Commission'';
       (B) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' each place it appears and inserting 
     ``Commission''; and
       (C) in subparagraph (B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (5) in paragraph (10), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (6) in paragraph (11)--
       (A) in the heading, by striking ``Appropriate federal 
     banking agency'' and inserting ``Commission'';
       (B) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission'';
       (C) by striking ``agency'' each place it appears and 
     inserting ``Commission''; and
       (D) by striking ``agency's'' and inserting 
     ``Commission's'';
       (b) in subsection (d)--
       (1) in paragraph (2)--
       (A) in subparagraph (F)(i), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (B) in subparagraph (G)(ii)--

       (i) in the heading, by striking ``appropriate federal 
     banking agency'' and inserting ``commission''; and
       (ii) by striking ``appropriate Federal banking agency for 
     such institution.'' and inserting ``Commission.'';

       (2) in paragraph (17)(A)--
       (A) by striking ``Comptroller of the Currency or the 
     Director of the Office of Thrift Supervision'' and inserting 
     ``Commission''; and
       (B) by striking ``appropriate''; and
       (3) in paragraph (18)(B), by striking ``Comptroller of the 
     Currency or the Director of the Office of Thrift 
     Supervision'' and inserting ``Commission'';
       (c) in subsection (m)--
       (1) in paragraph (9), by striking ``Comptroller of the 
     Currency'' and inserting ``Commission'';
       (2) in paragraph (16), by striking ``Comptroller of the 
     Currency'' each place it appears and inserting 
     ``Commission''; and
       (3) in paragraph (18), by striking ``Comptroller of the 
     Currency'' each place it appears and inserting 
     ``Commission'';
       (d) in subsection (n)--
       (1) in paragraph (1)(A), by striking ``Office of the 
     Comptroller of the Currency'' and inserting ``Commission'';
       (2) in paragraph (2)(A), by striking ``Comptroller of the 
     Currency'' and inserting ``Commission'';
       (3) in paragraph (4)--
       (A) in subparagraph (D), by striking ``Comptroller of the 
     Currency'' and inserting ``Commission''; and
       (B) in subparagraph (G), by striking ``Comptroller of the 
     Currency'' and inserting ``Commission''; and
       (4) in paragraph (12)(B), by striking ``Comptroller of the 
     Currency'' each place it appears and inserting 
     ``Commission'';
       (e) in subsection (o), by striking ``appropriate Federal 
     banking agency'' and inserting ``Federal banking agencies'';
       (f) in subsection (p)(1)(C), by striking ``an appropriate'' 
     and inserting ``any''; and
       (g) in subsection (t)(2)(A)(i), by striking ``appropriate 
     Federal banking agency'' and inserting ``Federal banking 
     agency''.

     SEC. 508. AMENDMENT TO SECTION 12.

       Section 12(f)(4)(E)(ii) of the Federal Deposit Insurance 
     Act (12 U.S.C. 1822(f)(4)(E)(ii)) is amended by striking 
     ``appropriate''.

     SEC. 509. AMENDMENTS TO SECTION 13.

       Section 13 of the Federal Deposit Insurance Act (12 U.S.C. 
     1823) is amended--
       (a) in subsection (c)(8)(A)(ii)(I)--
       (1) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (2) by striking ``agency'' and inserting ``Commission'';
       (b) in subsection (j)--
       (1) in paragraph (1)--
       (A) in the introductory text, by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission''; and
       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (2) in paragraph (2)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (3) in paragraph (3), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (4) in paragraph (4)--
       (A) in subparagraph (A)(iv)(II), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission''; and
       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (c) in subsection (k)--
       (1) in paragraph (1)(A)(iii)--
       (A) in the heading, by striking ``appropriate agency'' and 
     inserting ``commission''; and
       (B) by striking ``appropriate Federal banking agency of 
     every party thereto'' and inserting ``Commission'';
       (2) in paragraph (1)(A)(iv), by striking ``Director of The 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (3) in paragraph (5)(A)(ii)(IV), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission''.

     SEC. 510. AMENDMENT TO SECTION 14.

       Section 14(d)(5)(A) of the Federal Deposit Insurance Act 
     (12 U.S.C. 1824(d)(5)(A)) is amended by striking 
     ``appropriate Federal banking agency'' and inserting 
     ``Corporation or the Commission''.

     SEC. 511. AMENDMENTS TO SECTION 18.

       Section 18 of the Federal Deposit Insurance Act (12 U.S.C. 
     1828) is amended--
       (a) in subsection (c)--
       (1) in paragraph (2), by striking ``responsible agency'' 
     and all that follows through the period and inserting 
     ``responsible agency, which shall in every case referred to 
     in this paragraph be the Commission.'';
       (2) in paragraph (4), by striking ``the other two banking 
     agencies referred to in this subsection'' and inserting ``the 
     Corporation'';
       (3) in paragraph (6), by striking ``the other two banking 
     agencies'' and inserting ``the Corporation or the Commission, 
     as the case may be,''; and
       (4) in paragraph (7)(D)--
       (A) by striking ``Federal supervisory agency'' and 
     inserting ``the Corporation''; and
       (B) by striking ``such agency'' and inserting ``the 
     Commission''; and
       (5) in paragraph (9), by striking ``each of the responsible 
     agencies'' and inserting ``the responsible agency'';
       (b) in subsection (d)--
       (1) in paragraph (1), by striking ``Corporation'' each 
     place it appears and inserting ``Commission''; and
       (2) in paragraph (2), by striking ``Corporation'' each 
     place it appears and inserting ``Commission'';
       (c) in subsection (g)--
       (1) in paragraph (1)--
       (A) by striking ``Board of Directors'' each place it 
     appears and inserting ``Commission'';
       (B) in the first sentence, by striking ``, or by regulation 
     of the Board of Governors of the Federal Reserve System'';
       (C) in the second sentence, by striking ``, after 
     consulting with the Board of Governors of the Federal Reserve 
     System and the Director of the Office of Thrift 
     Supervision,''; and
       (D) in the sixth sentence, by striking ``Corporation'' and 
     inserting ``Commission''; and
       (2) in paragraph (2), by striking ``Board of Directors'' 
     and inserting ``Commission'';
       (d) in subsection (i)--
       (1) in paragraph (1), by striking ``Corporation'' and 
     inserting ``Commission''; and
       (2) in paragraph (2), by striking ``prior written consent'' 
     and all that follows through the period and inserting ``prior 
     written consent of the Commission.'';
       (e) subsection (k)--
       (1) in paragraph (4)(A)(ii)--
       (A) in subclause (III), by striking ``institution's 
     appropriate Federal banking agency'' and inserting 
     ``Commission''; and
       (B) in subclause (IV), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (2) in paragraph (5)(A), by striking ``appropriate Federal 
     banking agency'' and inserting ``any Federal banking 
     agency'';
       (f) in subsection (l)--
       (1) by striking ``Corporation'' each place it appears and 
     inserting ``Commission''; and
       (2) by striking ``Board of Directors'' and inserting 
     ``Commission'';
       (g) in subsection (m)--
       (1) in paragraph (1)--
       (A) in subparagraph (A) by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (B) in subparagraph (B), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission'';
       (2) in subparagraph (2)--
       (A) in subparagraph (A), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (B) in subparagraph (B)--

       (i) by striking ``Director of the Office of Thrift 
     Supervision'' and inserting ``Commission''; and
       (ii) by striking ``Director'' and inserting ``Commission''; 
     and

       (3) in paragraph (3)--
       (A) in subparagraph (A), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (B) in subparagraph (B), by striking ``Office of Thrift 
     Supervision'' and inserting ``Commission'';
       (h) in subsection (n), by striking ``No appropriate Federal 
     banking agency shall'' and inserting ``The Commission shall 
     not'';
       (i) in subsection (o)--
       (1) in paragraph (1), by striking ``each appropriate 
     Federal banking agency'' and inserting ``the Commission'';
       (2) in paragraph (2)(B), by striking ``appropriate Federal 
     banking agencies'' and inserting ``Commission'';
       (3) in paragraph (3), by striking ``No appropriate Federal 
     banking agency'' and inserting ``Neither the Corporation nor 
     the Commission''; and
       (4) in the second sentence of paragraph (4), by striking 
     ``appropriate Federal banking agencies, acting in concert'' 
     and inserting ``the Commission''; and
       (j) in subsection (p)--
       (1) by striking ``Each appropriate Federal banking agency'' 
     and inserting ``The Commission''; and
       (2) by striking ``other Federal banking agencies'' and 
     inserting ``Corporation.''

     SEC. 512. AMENDMENTS TO SECTION 20.

       Section 20(e) of the Federal Deposit Insurance Act (12 
     U.S.C. 1829a(e)) is amended by striking ``Board of 
     Directors'' and inserting ``Commission''.

     SEC. 513. AMENDMENTS TO SECTION 28.

       Section 28 of the Federal Deposit Insurance Act (12 U.S.C. 
     1831e) is amended--
       (a) in subsection (e)--
       (1) in paragraph (2)--
       (A) in subparagraph (A)(ii), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission'';
       (B) in subparagraph (C), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (C) in subparagraph (F), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (2) in paragraph (3)--
       (A) in subparagraph (A), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (B) in subparagraph (B), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''; 
     and
       (b) in subsection (h)(2), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''.

     SEC. 514. AMENDMENTS TO SECTION 30.

       Section 30(c) of the Federal Deposit Insurance Act (12 
     U.S.C. 1831g(c)) is amended, by striking ``any appropriate 
     Federal banking agency'' and inserting ``the Corporation or 
     the Commission''.

     SEC. 515. AMENDMENTS TO SECTION 32.

       Section 32 of the Federal Deposit Insurance Act (12 U.S.C. 
     1831i) is amended--
       (a) in subsection (a), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (b) in subsection (b)--
       (1) in the heading, by striking ``Agency'' and inserting 
     ``Commission'';
       (2) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (3) by striking ``agency'' and inserting ``Commission'';
       (c) in subsection (c)--
       (1) in paragraph (1), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Commission''; 
     and
       (2) in paragraph (2)--
       (A) in the heading, by striking ``Agency'' and inserting 
     ``Commission''; and
       (B) by striking ``each agency'' and inserting ``the 
     Commission'';
       (d) in subsection (d)--
       (1) by striking ``an appropriate Federal banking agency'' 
     and inserting ``the Commission''; and
       (2) in paragraph (2), by striking ``agency'' and inserting 
     ``Commission'';
       (e) in subsection (e), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (f) in subsection (f), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Commission''.

     SEC. 516. AMENDMENT TO SECTION 33.

       Section 33 of the Federal Deposit Insurance Act (12 U.S.C. 
     1831j) is amended--
       (a) in the last sentence of subsection (b), by striking 
     ``appropriate Federal banking agency'' and inserting 
     ``Commission''; and
       (b) in subsection (e), by striking ``the Comptroller of the 
     Currency'' and all that follows through the period and 
     inserting ``and the Federal Banking Commission.''

     SEC. 517. AMENDMENTS TO SECTION 34.

       Section 34 of the Federal Deposit Insurance Act (12 U.S.C. 
     1831k) is amended--
       (a) in subsection (a), by striking ``An appropriate Federal 
     banking agency'' and inserting ``The Corporation or the 
     Commission'';
       (b) in subsection (b), by striking ``An appropriate Federal 
     banking agency'' and inserting ``Neither the Corporation nor 
     the Commission''; and
       (c) in subsection (c), by striking ``An appropriate Federal 
     banking agency'' and inserting ``Neither the Corporation nor 
     the Commission''.

     SEC. 518. AMENDMENTS TO SECTION 35.

       Section 35 of the Federal Deposit Insurance Act (12 U.S.C. 
     18311) is amended--
       (a) in the heading, by striking ``sec and federal banking 
     agencies'' and inserting ``sec, federal banking commission, 
     and corporation'';
       (b) by striking ``Any appropriate Federal banking agency'' 
     and inserting ``The Federal Banking Commission and the 
     Corporation''; and
       (c) by striking ``for which the Commission'' and inserting 
     ``for which the Securities and Exchange Commission''.

     SEC. 519. AMENDMENT TO SECTION 36.

       Section 36 of the Federal Deposit Insurance act (12 U.S.C. 
     1831m) is amended--
       (a) in subsection (a)--
       (1) in paragraph (1), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (2) in paragraph (2)(B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (b) in subsection (b)--
       (1) in paragraph (1), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (2) in paragraph (2)--
       (A) in subparagraph (A)(iii), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission''; and
       (B) in subparagraph (B)(ii), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (c) in subsection (d)--
       (1) in paragraph (1), by striking ``appropriate Federal 
     banking agencies'' and inserting ``Commission''; and
       (2) in paragraph (2)(B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (d) in subsection (e)(1), by striking ``appropriate Federal 
     banking agencies'' and inserting ``Commission'';
       (e) in subsection (f)(2), by striking ``other appropriate 
     Federal banking agencies'' and inserting ``Commission'';
       (f) in subsection (g)--
       (1) in paragraph (2)--
       (A) in subparagraph (B), by striking ``any appropriate 
     Federal banking agency,'' and inserting ``the Commission,''; 
     and
       (B) in subparagraph (C), by striking ``any appropriate 
     Federal banking agency'' and inserting ``the Commission'';
       (2) in paragraph (3)(A)(i), by striking ``any appropriate 
     Federal banking agency'' and inserting ``the Commission'';
       (3) in paragraph (4)--
       (A) in subparagraph (A), by striking ``an appropriate 
     Federal banking agency'' and inserting ``the Commission''; 
     and
       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agencies'' and inserting ``Corporation and the 
     Commission''; and
       (4) in paragraph 5, by striking ``each appropriate Federal 
     banking agency'' each place it appears and inserting ``the 
     Commission'';
       (g) in subsection (h)--
       (1) in paragraph (1)(B)--
       (A) in clause (i) by striking ``any appropriate Federal 
     banking agency'' and inserting ``the Corporation, the 
     Commission,''; and
       (B) in clause (ii)(I), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (2) in paragraph (2)--
       (A) in subparagraph (A), by striking ``any appropriate 
     Federal banking agency'' and inserting ``the Commission''; 
     and
       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (h) in subsection (i)(2)(B)(ii), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission''.

     SEC. 520. AMENDMENTS TO SECTION 37.

       Section 37 of the Federal Deposit Insurance Act (12 U.S.C. 
     1831n) is amended--
       (a) in subsection (a)--
       (1) in paragraph (2)(B)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``the agency or'' and inserting ``the 
     Commission or''; and
       (2) in paragraph (3)--
       (A) in the introductory text, by striking ``appropriate''; 
     and
       (B) in subparagraph (D), by striking ``appropriate'';
       (b) in section (b), by striking ``appropriate'' each place 
     it appears; and
       (c) in subsection (c)--
       (1) in paragraph (1)--
       (A) by striking ``appropriate''; and
       (B) by striking ``or capital'' each place it appears;
       (2) in paragraph (2), by striking ``or capital'' each place 
     it appears.

     SEC. 521. AMENDMENTS TO SECTION 38.

       Section 38 of the Federal Deposit Insurance Act (12 U.S.C. 
     1831o) is amended--
       (a) in subsection (a)(2), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Commission'';
       (b) in subsection (b)(2)--
       (1) in subparagraph (A)(ii), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (2) in subparagraph (B)--
       (A) in clause (i)(II), by striking ``appropriate Federal 
     agency'' and inserting ``Commission''; and
       (B) in clause (iii), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (3) in subparagraph (G), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (c) in subsection (c)--
       (1) in paragraph (1)--
       (A) in subparagraph (A), by striking ``each appropriate 
     Federal banking agency'' and inserting ``the Commission''; 
     and
       (B) in subparagraph (B)--

       (i) by striking ``An appropriate Federal banking agency'' 
     and inserting ``The Federal Banking Commission''; and
       (ii) in clause (ii), by striking ``(with the concurrence of 
     the other Federal banking agencies)'';

       (2) in paragraph (2), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Commission''; 
     and
       (3) in paragraph (3)--
       (A) in subparagraph (A)--

       (i) in the heading, by striking ``Agency'' and inserting 
     ``Commission'';
       (ii) in clause (i) by striking ``Each appropriate Federal 
     banking agency'' and inserting ``The Commission''; and
       (iii) in clause (ii), by striking ``agency'' and inserting 
     ``Commission''; and

       (B) by striking subparagraph (C);
       (d) in subsection (d)(1(B), by striking ``appropriate 
     Federal Banking agency'' and inserting ``Commission'';
       (e) in subsection (e)--
       (1) in paragraph (1), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Commission'';
       (2) in paragraph (2)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (B) in subparagraph (B)(ii), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (C) in the introductory text of subparagraph (C)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (ii) by striking ``the agency'' and inserting 
     ``Commission'';

       (D) in the introductory text of subparagraph (D)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission'';
       (ii) in clause (ii), by striking ``agency'' and inserting 
     ``Commission''; and
       (iii) in clause (iii), by striking ``agency'' each place it 
     appears and inserting ``Commission'';

       (3) in paragraph (3)(A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (4) in paragraph (4)(A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (5) in paragraph (5)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``agency'' and inserting ``Commission'';
       (f) in subsection (f)--
       (1) in paragraph (1)(B)--
       (A) in clause (i), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (B) in clause (ii), by striking ``agency'' and inserting 
     ``Commission'';
       (2) in paragraph (2)--
       (A) in the introductory text, by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (B) in subparagraph (C)--

       (i) in clause (i), by striking ``agency'' and inserting 
     ``Commission''; and
       (ii) in clause (ii), by striking ``agency'' each place it 
     appears and inserting ``Commission'';

       (C) in subparagraph (E), by striking ``agency'' and 
     inserting ``Commission'';
       (D) in subparagraph (F)(iii), by striking ``agency'' each 
     place it appears and inserting ``Commission'';
       (E) in subparagraph (H), by striking ``Board of Governors 
     of the Federal Reserve System'' and inserting ``Commission'';
       (F) in subparagraph (I)--

       (i) in clause (i), by striking ``agency'' and inserting 
     ``Commission'';
       (ii) in clause (ii), by striking ``appropriate Federal 
     banking agency for that company'' and inserting ``Corporation 
     or Commission''; and
       (iii) in clause (iii), by striking ``appropriate Federal 
     banking agency for that company'' and inserting ``Corporation 
     or Commission''; and

       (G) in subparagraph (J), by striking ``agency'' and 
     inserting ``Commission'';
       (3) in the introductory text of paragraph (3), by striking 
     ``agency'' each place it appears and inserting 
     ``Commission'';
       (4) in paragraph (4)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (B) in subparagraph (B), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (5) in paragraph (5), by striking ``agency'' each place it 
     appears and inserting ``Commission''; and
       (6) in paragraph (6) by striking ``agency'' each place it 
     appears and inserting ``Federal Banking Commission'';
       (g) in the introductory text of subsection (g)(1)--
       (1) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (2) by striking ``agency'' and inserting ``Commission'';
       (h) in subsection (h)--
       (1) in paragraph (2)(B)(i), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (2) in paragraph (3)--
       (A) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (B) in subparagraph (B)--

       (i) by striking ``an appropriate Federal banking agency'' 
     and inserting ``the Commission''; and
       (ii) by striking ``agency'' and inserting ``Commission'';

       (C) in subparagraph (C)--

       (i) in clause (i), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (ii) in clause (ii)--

       (I) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission'';
       (II) in subclause (I), by striking ``agency'' and inserting 
     ``Commission''; and
       (III) in subclause (II), by striking ``the head of the 
     appropriate Federal banking agency'' and inserting ``the 
     Chairperson of the Commission'';
       (i) in subsection (i)(2)(A), by striking ``appropriate 
     Federal banking agency'' and inserting ``Commission'';
       (j) in subsection (k)--
       (1) in paragraph (1), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (A) in subparagraph (A)--

       (i) by striking ``that agency'' and inserting ``the 
     Commission''; and
       (ii) by striking ``the agency's '' each place it appears 
     and inserting ``the Commission's''; and

       (B) in subparagraph (B)(ii), by striking ``(if the agency 
     is not the Corporation)'';
       (2) in paragraph (3), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (3) in paragraph (4)(A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (k) in subsection (l)--
       (1) in paragraph (1)--
       (A) by striking ``Each appropriate Federal banking agency'' 
     and inserting ``The Commission''; and
       (B) by striking ``(in consultation with the other Federal 
     banking agencies)'' and inserting ``(in consultation with the 
     Corporation)''; and
       (2) in paragraph (2), by striking ``an appropriate Federal 
     banking agency'' and inserting ``the Commission'';
       (l) in subsection (m), by striking ``an appropriate Federal 
     banking agency'' and inserting ``the Commission'';
       (m) in subsection (n)--
       (1) in paragraph (1), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (2) in paragraph (2)--
       (A) in subparagraph (A), by striking ``agency'' each place 
     it appears and inserting ``Commission'';
       (B) in subparagraph (B), by striking ``agency'; and 
     inserting ``Commission''; and
       (C) in subparagraph (C), by striking ``agency'' and 
     inserting ``Commission''; and
       (n) in subsection (o)--
       (1) in paragraph (1)--
       (A) in the heading, by striking ``OTS'' and inserting 
     ``Commission''; and
       (B) in subparagraph (A), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (2) in paragraph (2)(C), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''.

     SEC. 522. AMENDMENTS TO SECTION 39.

       Section 39 of the Federal Deposit Insurance Act (12 U.S.C. 
     1831p-1) is amended--
       (a) in subsection (a)--
       (1) in paragraph (1), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Commission''; 
     and
       (2) in paragraph (2), by striking ``agency'' and inserting 
     ``Commission'';
       (b) in subsection (b)--
       (1) in paragraph (1), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Commission''; 
     and
       (2) in paragraph (2), by striking ``agency'' and inserting 
     ``Commission'';
       (c) in subsection (c)--
       (1) in the introductory text, by striking ``Each 
     appropriate Federal banking agency'' and inserting ``The 
     Commission'';
       (2) in paragraph (2), by striking ``agency'' and inserting 
     ``Commission''; and
       (3) in paragraph (2), by striking ``agency'' and inserting 
     ``Commission'';
       (d) in subsection (d)--
       (1) in paragraph (2), by striking ``any appropriate Federal 
     banking agency'' and inserting ``the Commission'';
       (2) in paragraph (3), by striking ``any appropriate Federal 
     banking agency'' and inserting ``the Commission''; and
       (3) in paragraph (4)--
       (A) in the introductory text, by striking ``any appropriate 
     Federal banking agency'' and inserting ``the Commission''; 
     and
       (B) in subparagraph (B)--

       (i) by striking ``agency'' each place it appears and 
     inserting ``Commission''; and
       (ii) by striking ``agency's'' and inserting 
     ``Commission's'';

       (e) in subsection (e)--
       (1) in paragraph (1)--
       (A) in subparagraph (A)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (ii) by striking ``agency'' each place it appears and 
     inserting ``Commission''; and

       (B) in subparagraph (C)--

       (i) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (ii) by striking ``agency'' each place it appears and 
     inserting ``Commission'';

       (2) in paragraph (2)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``agency'' each place it appears and 
     inserting ``Commission''; and
       (3) paragraph (3)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission''; and
       (B) by striking ``agency'' each place it appears and 
     inserting ``Commission''; and
       (f) in subsection (g), by striking ``Federal banking 
     agencies'' and inserting ``Commission''.

     SEC. 523. AMENDMENT TO SECTION 41.

       Section 41(a) of the Federal Deposit Insurance Act (12 
     U.S.C. 1831r) is amended by inserting ``Commission,'' ``after 
     the Corporation,''.

     SEC. 524. AMENDMENT TO SECTION 42.

       Section 42(a) of the Federal Deposit Insurance Act (12 
     U.S.C. 1831p) is amended--
       (a) in the heading, by striking ``Appropriate Federal 
     Banking Agency'' and inserting ``Commission''; and
       (b) in paragraph (1), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''.

       TITLE VI--CONFORMING AMENDMENTS TO OTHER BANKING STATUTES

     SEC. 601. AMENDMENTS TO THE ACT OF JUNE 30, 1876.

       (a) Amendments to Section 1.--Section 1 of the Act of June 
     30, 1876 (12 U.S.C. 191), is amended--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission'';
       (2) by striking ``Comptroller'' and inserting 
     ``Commission''; and
       (3) by striking ``Comptroller's'' and inserting 
     ``Commission's''.
       (b) Amendments to Section 3.--Section 3 of the Act of June 
     30, 1876 (12 U.S.C. 197), is amended--
       (1) in subsection (a)--
       (A) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (B) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission''; and
       (2) in subsection (b), by striking ``Comptroller of the 
     Currency'' each place it appears and inserting ``Federal 
     Banking Commission''.
       (c) Amendment to Section 6.--Section 6 of the Act of June 
     30, 1876 (omitted from the United States Code), is amended by 
     striking ``Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission''.

     SEC. 602. AMENDMENT TO THE ACT OF MARCH 29, 1886.

       (a) Amendment to First Undesignated Paragraph.--The first 
     undesignated paragraph of the Act of March 29, 1886 (12 
     U.S.C. 198), is amended by striking ``Comptroller of the 
     Currency'' each place it appears and inserting ``Federal 
     Banking Commission''.
       (b) Amendment to Section 2.--Section 2 of the Act of March 
     29, 1886 (12 U.S.C. 199) is amended by striking ``Comptroller 
     of the Currency, shall be, together with the certificate of 
     facts in the case, and his recommendation as to the amount of 
     money which, in his judgment, should be so used and employed, 
     submitted to the Secretary of the Treasury, and if the same 
     shall likewise be approved by him, the request shall be by 
     the Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission, shall be''.
       (c) Amendments to Section 3.--Section 3 of the Act of March 
     29, 1886 (12 U.S.C. 200) is amended--
       (1) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission'';
       (2) by striking ``, with the approval of the Secretary of 
     the Treasury,''; and
       (3) by striking ``he'' and inserting ``the Commission''.

     SEC. 603. AMENDMENTS TO THE ACT OF MAY 1, 1886.

       Section 2 of the Act of May 1, 1886 (12 U.S.C. 30) is 
     amended--
       (a) in subsection (a), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''; and
       (b) in subsection (b), by striking ``Comptroller of the 
     Currency'' each place it appears and inserting ``Federal 
     Banking Commission''.

     SEC. 604. AMENDMENTS TO THE ACT OF NOVEMBER 7, 1918.

       (a) Amendments to the First Section.--The first section of 
     the Act of November 7, 1918 (12 U.S.C. 215) is amended--
       (1) in subsection (a), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (3) in the third sentence of subsection (c), by striking 
     ``Comptroller'' and inserting ``Commission''; and
       (4) in subsection (d), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission''.
       (b) Amendments to Section 2.--Section 2 of the Act of 
     November 1918 (12 U.S.C. 215a) is amended--
       (1) in subsection (a), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (3) in the third sentence of subsection (c), by striking 
     ``Comptroller'' and inserting ``Commission''; and
       (4) in subsection (d), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission''.
       (c) Amendment to Section 3.--Section 3(3) of the Act of 
     November 7, 1918 (12 U.S.C. 215b(3)) is amended to read as 
     follows:
       ``(3) `Commission' means the Federal Banking Commission; 
     and''.

     SEC. 605. AMENDMENT TO THE ACT OF FEBRUARY 25, 1930.

       The Act of February 25, 1930 (12 U.S.C. 67) is amended by 
     striking ``Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission''.

     SEC. 606. AMENDMENTS TO THE ACT OF MARCH 9, 1933.

       (a) Amendments to Section 4.--Section 4(b)(1) of the Act of 
     March 9, 1933 (12 U.S.C. 95(b)(1)) is amended by striking 
     ``Comptroller of the Currency'' each place it appears and 
     inserting ``Federal Banking Commission''.
       (b) Amendment to Section 301.--Section 301 of the Act of 
     March 9, 1933 (12 U.S.C. 51a) is amended--
       (1) in the first sentence--
       (A) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (B) by striking ``said Comptroller'' and inserting ``the 
     Commission''; and
       (2) in the second sentence--
       (A) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (B) by striking ``his'' each place it appears and inserting 
     ``the Commission's''.
       (c) Amendment to Section 302.--Section 302(a) of the Act of 
     March 9, 1933 (12 U.S.C. 51b(a)) is amended in the first 
     sentence by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''.

     SEC. 607. AMENDMENTS TO THE ACT OF AUGUST 17, 1950.

       Section 2 of the Act of August 17, 1950 (12 U.S.C. 214a) is 
     amended--
       (1) in the first sentence of subsection (a), by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''; and
       (2) in subsection (b)--
       (A) in the third sentence, by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''; and
       (B) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission''.

     SEC. 608 AMENDMENTS TO THE ACT OF SEPTEMBER 8, 1959.

       Section 13 of the Act of September 8, 1959 (12 U.S.C. 21a) 
     is amended in the last sentence--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``his'' and inserting ``the Commission's''.

     SEC. 609. AMENDMENTS TO THE ACT OF SEPTEMBER 28, 1962.

       (a)  Amendments to the First Section.--The first 
     undesignated section of the Act of September 28, 1962 (12 
     U.S.C. 92a) is amended--
       (1) in subsection (a)--
       (A) in the heading, by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''; and
       (B) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission'';
       (2) in the second sentence of subsection (c), by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission'';
       (3) in subsection (d), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission'';
       (4) in subsection (i), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission'';
       (5) in subsection (j)--
       (A) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission'';
       (B) in the second sentence--
       (i) by striking ``himself'' and inserting ``itself'';
       (ii) by striking ``his'' and inserting ``the 
     Commission's''; and
       (C) in the last sentence, by striking ``he'' and inserting 
     ``the Commission''; and
       (6) in subsection (k)--
       (A) in the first sentence of paragraph (1), by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''; and
       (B) by striking ``Comptroller'' each place it appears and 
     inserting ``Federal Banking Commission''.
       (b) Amendments to Section 2.--Section 2 of the Act of 
     September 28, 1962 (12 U.S.C. 92a note) is amended in the 
     second sentence by striking ``Comptroller of the Currency'' 
     and inserting ``Federal Banking Commission''.

     SEC. 610. AMENDMENTS TO THE ALTERNATIVE MORTGAGE TRANSACTION 
                   PARITY ACT OF 1982.

       (a) Amendments to Section 802.--Section 802(a)(3) of the 
     Alternative Mortgage Transaction Parity Act of 1982 (12 
     U.S.C. 3801) is amended--
       (1) by striking ``Comptroller of the Currency,'' and 
     inserting ``Federal Banking Commission and''; and
       (2) by striking ``, and the Director of the Office of 
     Thrift Supervision''.
       (b) Amendments to Section 804.--Section 804(a) of the 
     Alternative Mortgage Transaction Parity Act of 1982 (12 
     U.S.C. 3803) is amended--
       (1) by amending paragraph (3) to read as follows:
       ``(2) with respect to all other housing creditors, 
     including without limitation, banks, savings associations, 
     mutual savings banks, and savings banks, only to transactions 
     made in accordance with regulations governing alternative 
     mortgage transactions as issued by the Federal Banking 
     Commission for national banks or federally chartered savings 
     associations, to the extent that such regulations are 
     authorized by rulemaking authority granted to the Federal 
     Banking Commission with regard to national banks or federally 
     chartered savings associations under laws other than this 
     section.''; and
       (2) by striking paragraph (1);
       (3) by redesignating paragraph (2) as paragraph (1); and
       (c) Amendment to Section 1204.--Section 1204(b) of the 
     Alternative Mortgage Transaction Parity Act of 1982 (12 
     U.S.C. 3806(b)) is amended by striking ``Board of Governors 
     of the Federal Reserve System'' and inserting ``Federal 
     Banking Commission''.

     SEC. 611. AMENDMENTS TO THE BANK CONSERVATION ACT.

       (a) Amendment to Section 201.--Section 201 of the Bank 
     Conservation Act (12 U.S.C. 201) is amended to read as 
     follows:

     ``SEC. 201. SHORT TITLE.

       ``This title may be cited as the `Bank Conservation 
     Act'.''.
       (b) Amendment to Section 202.--Section 202 of the Bank 
     Conservation Act (12 U.S.C. 202) is amended to read as 
     follows:

     ``SEC. 202. DEFINITIONS.

       ``(a) Bank Defined.--As used in this title, the term `bank' 
     means--
       ``(1) any national banking association;
       ``(2) any other financial institution chartered or licensed 
     under Federal law; and
       ``(3) any bank or trust company located in the District of 
     Columbia, that was or would have been supervised by the 
     Comptroller of the Currency prior to the effective date of 
     the Regulatory Consolidation Act of 1994.
       ``(b) Voluntary Dissolution and Liquidation Defined.--As 
     used in this title, the term `voluntary dissolution and 
     liquidation' means a transaction pursuant to section 5220 of 
     the Revised Statutes (12 U.S.C. 181) that involves the 
     assumption of the bank's insured deposit liabilities and the 
     sale of the bank, or of control of the bank, as a going 
     concern; and
       ``(c) State Defined.--As used in this title, the term 
     `State' means any State, Territory, or possession of the 
     United States.''
       (c) Amendments to Section 203.--Section 203 of the Bank 
     Conservation Act (12 U.S.C. 203) is amended--
       (1) in subsection (a), by striking ``Comptroller of the 
     Currency'' each place it appears and inserting ``Federal 
     Banking Commission''; and
       (2) in subsection (b)--
       (A) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission'';
       (B) by striking ``Comptroller's'' and inserting 
     ``Commission's'';
       (3) in subsection (c), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (4) in subsection (d), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (5) in subsection (e)--
       (A) by striking ``Comptroller'' and inserting 
     ``Commission''; and
       (B) by striking ``Comptroller's'' and inserting 
     ``Commission's''.
       (d) Amendments to Section 204.--Section 204 of the Bank 
     Conservation Act (12 U.S.C. 204) is amended--
       (1) in the first sentence, by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''; and
       (2) in the second sentence, by striking ``Comptroller'' and 
     inserting ``Commission''.
       (e) Amendment to Section 205.--Section 205 of the Bank 
     Conservation Act (12 U.S.C. 205) is amended--
       (1) in subsection (a), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Comptroller'' and 
     inserting ``Commission''; and
       (3) in subsection (c), by striking ``Comptroller'' and 
     inserting ``Commission''.
       (f) Amendments to Section 206.--Section 206 of the Bank 
     Conservation Act (12 U.S.C. 206) is amended--
       (1) in subsection (a), by striking ``Comptroller'' and 
     inserting ``Commission'';
       (2) in subsection (b)--
       (A) in the heading, by striking ``Comptroller'' and 
     inserting ``Commission'';
       (B) by striking ``Comptroller'' and inserting 
     ``Commission'';
       (3) in subsection (c), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (4) in subsection (d)--
       (A) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission'';
       (B) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission''.
       (g) Amendment to Section 209.--Section 209(c) of the Bank 
     Conservation Act (12 U.S.C. 209(c)) is amended by striking 
     ``Comptroller'' each place it appears and inserting 
     ``Commission''.
       (h) Amendment to Section 210.--Section 210 of the Bank 
     Conservation Act (12 U.S.C. 210) is amended to read as 
     follows:

     ``SEC. 210. NO IMPAIRMENT OF OTHER POWERS.

       ``Nothing in this title shall be construed to impair in any 
     manner any powers of the President, the Secretary of the 
     Treasury, the Federal Banking Commission, or the Board of 
     Governors of the Federal Reserve System.''.
       (i) Amendments to Section 211.--Section 211 of the Bank 
     Conservation Act (12 U.S.C. 211) is amended--
       (1) in subsection (a)--
       (A) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission'';
       (B) by striking ``Comptroller'' and inserting 
     ``Commission'';
       (2) in subsection (b), by striking ``Comptroller'' and 
     inserting ``Commission''.

     SEC. 612. AMENDMENTS TO THE BANK ENTERPRISE ACT OF 1991.

       (a) Amendments to Section 232.--Subsection 232(a) of the 
     Bank Enterprise Act of 1991 (12 U.S.C. 1834(a)) is amended--
       (1) in the heading, by striking ``Federal Reserve Board'' 
     and inserting ``The Commission'';
       (2) in paragraph (1), by striking ``Board of Governors of 
     the Federal Reserve System,'' and inserting ``Commission'';
       (3) in paragraph (2), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (4) in paragraph (3)--
       (A) by amending subparagraph (A) to read as follows:
       ``(A) Commission.--The term `Commission' means the Federal 
     Banking Commission.'';
       (B) in subparagraph (C), by striking ``Board'' and 
     inserting ``Commission''.
       (b) Amendments to Section 233.--Section 233 of the Bank 
     Enterprise Act of 1991 (12 U.S.C. 1834a) is amended--
       (1) in subsection (b)(2)--
       (A) in subparagraph (A)(i)--
       (i) in the heading, by striking ``agency'' and inserting 
     ``commission'';
       (ii) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission'';
       (B) in subparagraph (B)--
       (i) in the heading, by striking ``Agency'';
       (ii) in clause (i), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (iii) in clause (ii)--

       (I) by striking ``appropriate Federal banking agency'' and 
     inserting ``Commission'';
       (II) by striking ``agency'' and inserting ``Commission''; 
     and

       (3) by amending subsection (g)(1) to read as follows:
       ``(1) Commission.--The term `Commission' means the Federal 
     Banking Commission.'';
       (c) Amendment to Section 234.--Subsection 234 of the Bank 
     Enterprise Act of 1991 (12 U.S.C. 1834b) is amended--
       (1) in subsection (c), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (2) in subsection (d), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (3) in subsection (e)--
       (A) in paragraph (4), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission'';
       (B) by inserting a new paragraph (6) to read as follows:
       ``(6) Commission.--The term `Commission' means the Federal 
     Banking Commission.''.

     SEC. 613. AMENDMENTS TO THE BANK HOLDING COMPANY ACT OF 1956.

       (a) Amendments to Section 2.--Section 2 of the Bank Holding 
     Company Act of 1956 (12 U.S.C. 1841) is amended--
       (1) in subsection (a)--
       (A) in paragraph (2)(C), by striking ``Board'' and 
     inserting ``Commission'';
       (B) in paragraph (5)(D)--
       (i) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (ii) by striking ``Board's'' and inserting 
     ``Commission's'';
       (2) in subsection (d) by striking ``Board'' and inserting 
     ``Commission'';
       (3) in subsection (e), by striking ``Board'' and inserting 
     ``Commission'';
       (4) by amending subsection (f) to read as follows:
       ``(f) `Commission' means the Federal Banking Commission.'';
       (5) in subsection (g)(3), by striking ``Board'' and 
     inserting ``Commission'';
       (6) in subsection (h)(3), by striking ``Board'' and 
     inserting ``Commission''; and
       (7) in subsection (j)(3), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission''.
       (b) Amendments to Section 3.--Section 3 of the Bank Holding 
     Company Act of 1956 (12 U.S.C. 1842) is amended--
       (1) in subsection (a)--
       (A) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (B) in the third sentence, by striking ``in the Board's 
     judgment'' and inserting ``in the Commission's judgment'';
       (2) in subsection (b)--
       (A) in paragraph (1)--
       (i) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (ii) in the first sentence--

       (I) by striking ``to the Comptroller of the Currency, if 
     the applicant company or any bank the voting shares or assets 
     of which are sought to be required is a national banking 
     association or a District bank, or'';
       (II) by striking ``the Comptroller of the Currency or the 
     State supervisory authority, as the case may be.'' and 
     inserting ``the State supervisory authority.'';

       (ii) in the second sentence, by striking ``the Comptroller 
     of the Currency or'';
       (iii) in the third sentence, by striking ``the Comptroller 
     of the Currency or'';
       (iv) in the ninth sentence, by striking ``the Comptroller 
     of the Currency or the State supervisory authority, as the 
     case may be,'' and inserting ``the State supervisory 
     authority''; and
       (B) in paragraph (2)--
       (i) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (ii) by striking ``the appropriate Federal or State 
     chartering authority'' and inserting ``a State chartering 
     authority'';
       (3) in subsection (c)--
       (A) in the heading, by striking ``Board'' and inserting 
     ``Commission'';
       (B) in the introductory text of paragraph (1), by striking 
     ``Board'' and inserting ``Commission''.
       (C) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission'';
       (D) in paragraph (3), by striking ``Board'' each place it 
     appears and inserting ``Commission''; and
       (E) in paragraph (4), by striking ``Board'' each place it 
     appears and inserting ``Commission''.
       (c) Amendments to Section 4.--Section 4 of the Bank Holding 
     Company Act of 1956 (12 U.S.C. 1843) is amended--
       (1) in subsection (a)(2)--
       (A) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (B) by striking ``Board of Governors'' and inserting 
     ``Commission'';
       (2) in subsection (c)--
       (A) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission'';
       (B) in paragraph (8)--
       (i) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (ii) by striking ``Board of Governors of the Federal 
     Reserve System'' and inserting ``Commission'';
       (iii) by striking '', and the primary Federal regulator of 
     such institution concurs in such finding,'';
       (C) in paragraph (9), by striking ``Board'' and inserting 
     ``Commission'';
       (D) in paragraph (12)(B), by striking ``Board'' and 
     inserting ``Commission'';
       (E) in paragraph (13), by striking ``Board'' and inserting 
     ``Commission'';
       (F) in paragraph (14)--
       (i) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (ii) in subparagraph (A)(ii), by striking ``in the Board's 
     judgment'' and inserting ``in the Commission's judgment'';
       (3) in subsection (d), by striking ``Board'' and inserting 
     ``Commission'';
       (4) in subsection (e), by striking ``Board'' and inserting 
     ``Commission''; and
       (5) in subsection (f)--
       (A) in paragraph (2)(A)(ii)(VII), by striking ``Board'' 
     each place it appears and inserting ``Commission'';
       (B) in paragraph (3)(B), by striking ``Board'' and 
     inserting ``Commission'';
       (C) in paragraph (5)(B), by striking ``Board'' and 
     inserting ``Commission'';
       (D) in paragraph (6), by striking ``Board'' and inserting 
     ``Commission'';
       (E) in paragraph (7), by striking ``Board'' and inserting 
     ``Commission'';
       (F) in paragraph (8)--
       (i) in subparagraph (A), by striking ``Board'' each place 
     it appears and inserting ``Commission''.
       (ii) in subparagraph (C), by striking ``the Comptroller of 
     the Currency or'';
       (G) in paragraph (12)--
       (i) in subparagraph (A), by striking ``Office of Thrift 
     Supervision'' and inserting ``Commission'';
       (ii) in subparagraph (B), by striking ``appropriate Federal 
     or State authority'' and inserting ``Commission or the 
     appropriate State authority'';
       (6) in subsection (i)--
       (A) in paragraph (1), by striking ``Board'' and inserting 
     ``Commission''; and
       (B) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission''.
       (d) Amendments to Section 5.--Section 5 of the Bank Holding 
     Company Act of 1956 (12 U.S.C. 1844) is amended--
       (1) in subsection (a), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Board'' and inserting 
     ``Commission'';
       (3) in subsection (c)--
       (A) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (B) by striking ``the Comptroller of the Currency, the 
     Federal Deposit Insurance Corporation, or'';
       (4) in subsection (d)--
       (A) by striking ``Board's'' and inserting ``Commission's'';
       (B) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (5) in subsection (e)--
       (A) in paragraph (1)--
       (i) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (ii) by striking ``the bank's primary supervisor, which 
     shall be the Comptroller of the Currency in the case of a 
     national Bank or the Federal Deposit Insurance Corporation 
     and'';
       (B) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission'';
       (6) in subsection (f), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (e) Amendments to Section 8.--Seciton 8 of the Bank Holding 
     Company Act of 1956 (12 U.S.C. 1847) is amended--
       (1) in subsection (a)(1), by striking ``Board'' and 
     inserting ``Commission'';
       (2) in subsection (b)--
       (A) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission'';
       (C) in paragraph (6), by striking ``Board'' and inserting 
     ``Commission'';
       (3) in subsection (c), by striking ``Board'' and inserting 
     ``Commission'';
       (4) in subsection (d)--
       (A) in paragraph (1)(A)(i), by striking ``Board'' each 
     place it appears and inserting ``Commission'';
       (B) in paragraph (2)(A), by striking ``Board'' each place 
     it appears and inserting ``Commission'';
       (C) in paragraph (3), by striking ``Board'' and inserting 
     ``Commission''; and
       (D) in paragraph (4), by striking ``Board'' and inserting 
     ``Commission''.
       (f) Amendments to Section 9.--Section 9 of the Bank Holding 
     Company Act of 1956 (12 U.S.C. 1848) is amended--
       (1) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (2) in the first sentence, by striking ``Board's order'' 
     and inserting ``Commission order''.
       (g) Amendments to Section 11.--Section 11 of the Bank 
     Holding Company Act of 1956 (12 U.S.C. 1849) is amended--
       (1) in subsection (b)--
       (A) in paragraph (1)--
       (i) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (ii) in the third sentence, by striking ``the Comptroller 
     of the Currency or the State supervisory authority, as the 
     case may be,'' and inserting ``a State supervisory 
     authority'';
       (iii) in the sixth sentence, by striking ``Board's 
     approval'' and inserting ``Commission's approval'';
       (B) in paragraph (2)--
       (i) in subparagraph (A), by striking ``Board'' each place 
     it appears and inserting ``Commission'';
       (ii) in subparagraph (B), by striking ``Board'' each place 
     it appears and inserting ``Commission'';
       (iii) in subparagraph (C), by striking ``Board'' and 
     inserting ``Commission'';
       (iv) in subparagraph (D), by striking ``Board'' and 
     inserting ``Commission''; and
       (2) in subsection (c), by striking ``Board'' each place it 
     appears and inserting ``Commission''.

     SEC. 614. AMENDMENTS TO THE BANK HOLDING COMPANY ACT 
                   AMENDMENTS OF 1970.

       Section 106 of the Bank Holding Company Act Amendments of 
     1970 is amended--
       (1) in subsection (a) (12 U.S.C. 1971), by striking 
     ``Board'' and inserting ``Commission'';
       (2) in subsection (b) (12 U.S.C. 1972)--
       (A) in the last sentence of paragraph (1), by striking 
     ``Board'' and inserting ``Commission'';
       (B) in paragraph (2)--
       (i) in subparagraph (E), by striking ``Board'' and 
     inserting ``Commission'';
       (ii) in subparagraph (F)--

       (I) by amending clause (v) to read as follows:

       ``(v) Assessment, etc.--Any penalty imposed under clause 
     (i), (ii), or (iii) may be assessed and collected by the 
     Commission in the manner provided in subparagraphs (E), (F), 
     (G), and (I) of section 8(i)(2) of the Federal Deposit 
     Insurance Act for penalties imposed (under such section) and 
     any such assessment shall be subject to the provisions of 
     such section.''; and

       (II) in clause (ix), by striking ``Comptroller of the 
     Currency, the Board, and the Federal Deposit Insurance 
     Corporation'' and inserting ``Commission'';

       (iii) in subparagraph (G)(ii), by striking ``appropriate 
     Federal banking agencies are'' and inserting ``Commission 
     is''; and
       (iv) in subparagraph (I), by striking ``appropriate Federal 
     banking agency'' and inserting ``Commission''; and
       (3) in subsection (h) (12 U.S.C. 1978), by striking 
     ``Board'' and inserting ``Commission''.

     SEC. 615. AMENDMENTS TO THE BANK PROTECTION ACT OF 1968.

       (a) Amendment to Title.--The title of the Bank Protection 
     Act of 1968 is amended to read as follows: ``An Act to 
     provide security measures for banks and other financial 
     institutions.''.
       (b) Amendment to Section 2.--Section 2 of the Bank 
     Protection Act of 1968 (12 U.S.C. 1881) is amended to read as 
     follows:
       ``Sec. 2. As used in this Act, the term `Federal 
     supervisory agency' means--
       ``(1) The Federal Banking Commission with respect to 
     national banks and district banks, State banks which are 
     members of the Federal Reserve System, State banks which are 
     not members of the Federal Reserve System but the deposits of 
     which are insured by the Federal Deposit Insurance 
     Corporation, and Federal and State savings associations; and
       ``(2) The Board of Governors of the Federal Reserve System 
     with respect to Federal Reserve banks.''

     SEC. 616. AMENDMENTS TO THE BANK SERVICE CORPORATION ACT.

       (a) Amendments to Section 1.--Section 1(b) of the Bank 
     Service Corporation Act (12 U.S.C. 1861(b)) is amended--
       (1) by striking paragraph (1) and (7);
       (2) by redesignating paragraphs (2) through (6) as 
     paragraph (3) through (5), respectively;
       (3) by amending paragraph (2), as redesignated, to read as 
     follows:
       ``(2) the term `Commission' means the Federal Banking 
     Commission;''
       (4) in paragraph (3), as redesignated--
       (A) by inverting ``a savings association'' after ``an 
     insured bank,'';
       (B) by striking ``the Federal Home Loan Bank Board or''; 
     and
       (C) by striking ``, the Federal Savings and Loan Insurance 
     Corporation,'';
       (5) by inserting a new paragraph (6) as follows:
       ``(6) the term `savings association' shall have the meaning 
     provided in section 3(b) of the Federal Deposit Insurance 
     Act.''.
       (b) Amendments to Section 4.--Section 4 of the Bank Service 
     Corporation Act (12 U.S.C. 1864) is amended--
       (1) in subsection (b), striking ``Board'' and inserting 
     ``Commission''; and
       (2) in subsection (f), by striking ``Board'' and inserting 
     ``Commission''.
       (c) Amendments to Section 5.--Section 5 of the Bank Service 
     Corporation Act (12 U.S.C. 1865) is amended--
       (1) by striking subsection (a);
       (2) in subsection (b)--
       (A) in the heading, by striking ``Board'' and inserting 
     ``the Commission'';
       (B) by striking ``section 4(f) of'' each place it appears; 
     and
       (C) by striking ``Board'' and inserting ``Commission'';
       (3) in subsection (c), by striking ``Board or the 
     appropriate Federal banking agency, as the case may be,'' and 
     inserting ``Commission'';
       (4) in subsection (d)--
       (A) by striking ``Board or the appropriate Federal banking 
     agency, as the case may be,'' and inserting ``Commission''; 
     and
       (B) by striking ``the agency'' and inserting ``the 
     Commission''; and
       (5) by redesignating subsections (b) through (d) as 
     subsections (a) through (c), respectively.
       (d) Amendments to Section 7.--Section 7 of the Bank Service 
     Corporation Act (12 U.S.C. 1867) is amended--
       (1) by amending subsection (a) to read as follows:
       ``(a) A bank service corporation shall be subject to 
     examination and regulation by the Commission.'';
       (2) in subsection (b), striking the second sentence;
       (3) in subsection (c)--
       (A) in the introductory text--
       (i) by striking ``Notwithstanding subsection (a) of this 
     section whenever a bank that is regularly examined by an 
     appropriate Federal banking agency,'' and inserting 
     ``Whenever a bank that is regularly examined by the 
     Commission''; and
       (ii) by striking ``that agency'' and inserting 
     ``Commission'';
       (B) in paragraph (1), by striking ``such agency'' and 
     inserting ``the Commission''; and
       (C) in paragraph (2), by striking ``such agency'' and 
     inserting ``the Commission''; and
       (4) by amending subsection (d) to read as follows:
       ``(d) The Commission is authorized to issue such 
     regulations and orders as may be necessary to enable it to 
     administer and to carry out the purposes of this Act and to 
     prevent evasions thereof.''.

     SEC. 617. AMENDMENTS TO THE BANKING ACT OF 1933.

       (a) Amendments to Section 20.--Section 20 of the Banking 
     Act of 1933 (12 U.S.C. 377) is amended--
       (1) in the second undesignated paragraph--
       (A) by striking ``Federal Reserve Board'' and inserting 
     ``Federal Banking Commission'';
       (B) by striking ``Federal reserve bank'' and inserting 
     ``Commission'';
       (2) in the third undesignated paragraph, by striking 
     ``Federal Reserve Board'' and inserting ``Federal Banking 
     Commission''.
       (b) Amendment to Section 22.--Section 22 of the Banking Act 
     of 1933 (12 U.S.C. 64a) is amended by striking ``Comptroller 
     of the Currency'' each place it appears and inserting 
     ``Federal Banking Commission''.
       (c) Amendments to Section 29.--Section 29 of the Banking 
     Act of 1933 (12 U.S.C. 197a) is amended--
       (1) in the first sentence--
       (A) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission'';
       (B) by striking ``Comptroller'' and inserting 
     ``Commission'';
       (C) by striking ``his'' and inserting ``its''; and
       (2) in the second sentence, by striking ``Comptroller'' 
     each place it appears and inserting ``Commission''.
       (d) Amendments to Section 31.--Section 31 of the Banking 
     Act of 1933 (12 U.S.C. 71a) is amended--
       (1) in the second sentence, by striking ``Comptroller of 
     the Currency, the said Comptroller'' and inserting ``Federal 
     Banking Commission, the Commission''; and
       (2) in the third sentence, by striking ``Board of Governors 
     of the Federal Reserve System'' and inserting ``Federal 
     Banking Commission''.
       (e) Amendments to Section 32.--Section 32 of the Banking 
     Act of 1933 (12 U.S.C. 78) is amended--
       (1) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission''; and
       (2) by striking ``said Board'' and inserting 
     ``Commission''.

     SEC. 618. AMENDMENTS TO THE BANKING ACT OF 1935.

       Section 345 of the Banking Act of 1935 (12 U.S.C. 51b-1) is 
     amended by striking ``Comptroller of the Currency'' each 
     place it appears and inserting ``Federal Banking 
     Commission''.

     SEC. 619. AMENDMENTS TO THE COMMUNITY REINVESTMENT ACT OF 
                   1977.

       (a) Amendment to Section 802.--Subsection 802(b) of the 
     Community Reinvestment Act of 1977 (12 U.S.C. 2901(b)) is 
     amended by striking ``each appropriate Federal financial 
     supervisory agency'' and inserting ``the Federal Banking 
     Commission''.
       (b) Amendments to Section 803.--Section 803 of the 
     Community Reinvestment Act of 1977 (12 U.S.C. 2902) is 
     amended--
       (1) by amending paragraph (1) to read as follows:
       ``(1) Commission.--The term `Commission' means the Federal 
     Banking Commission.'';
       (2) by striking ``(2) section 8 of the Federal Deposit 
     Insurance Act, by the Director of the Office of Thrift 
     Supervision, in the case of a savings association (the 
     deposits of which are insured by the Federal Deposit 
     Insurance Corporation) and a savings and loan holding 
     company;''; and
       (3) in the introductory text of paragraph (3), by striking 
     ``appropriate Federal financial supervisory agency'' and 
     inserting ``Commission''.
       (c) Amendment to Section 804.--Section 804 of the Community 
     Reinvestment Act of 1977 (12 U.S.C. 2903) is amended in the 
     introductory text by striking ``appropriate Federal financial 
     supervisory agency'' and inserting ``Commission''.
       (d) Amendment to Section 805.--Section 805 of the Community 
     Reinvestment Act of 1977 (12 U.S.C. 2904) is amended by 
     striking ``Each appropriate Federal financial supervisory 
     agency'' and inserting ``The Commission''.
       (e) Amendment to Section 806.--Section 806 of the Community 
     Reinvestment Act of 1977 (12 U.S.C. 2905) is amended by 
     striking ``each appropriate Federal financial supervisory 
     agency,'' and inserting ``the Commission,''.
       (f) Amendments to Section 807.--Section 807 of the 
     Community Reinvestment Act of 1977 (12 U.S.C. 2906) is 
     amended--
       (1) in subsection (a)(1), by striking ``appropriate Federal 
     financial supervisory agency'' and inserting ``Commission'';
       (2) in subsection (b)(1)(A)--
       (A) by striking ``appropriate Federal financial supervisory 
     agency's'' and inserting ``Commission's'';
       (B) by striking ``Federal financial supervisory agencies'' 
     and inserting ``Commission'';
       (3) in subsection (c)--
       (A) in paragraph (2)--
       (i) by striking ``appropriate Federal financial supervisory 
     agency'' and inserting ``Commission'';
       (ii) by striking ``judgment of the agency'' and inserting 
     ``judgment of the Commission'';
       (B) in paragraph (3), by striking ``appropriate Federal 
     financial supervisory agency'' and inserting ``Commission''.
       (g) Amendment to Section 808.--Section 808 of the Community 
     Reinvestment Act of 1977 (12 U.S.C. 2907) is amended by 
     striking ``appropriate Federal financial supervisory agency'' 
     and inserting ``Commission''.

     SEC. 620. AMENDMENT TO THE COMPETITIVE EQUALITY BANKING ACT 
                   OF 1987.

       Subsection 1204(b) of the Competitive Equality Banking Act 
     of 1987 (12 U.S.C. 3806(b)) is amended by striking ``Board of 
     Governors of the Federal Reserve System'' and inserting 
     ``Federal Banking Commission''.

     SEC. 621. AMENDMENTS TO THE DEPOSITORY INSTITUTIONS 
                   DEREGULATION AND MONETARY CONTROL ACT OF 1980.

       (a) Amendment to Section 208.--Section 208(a) of the 
     Depository Institutions Deregulation and Monetary Control Act 
     of 1980 (12 U.S.C. 3507(a)) is amended to read as follows:
       ``(a) Enforcement.--Compliance with the regulations issued 
     by the Deregulation Committee under this title shall be 
     enforced under section 8 of the Federal Deposit Insurance Act 
     (12 U.S.C. 1818), by the Federal Banking Commission with 
     respect to national banks; member banks of the Federal 
     Reserve System (other than national banks); offices, 
     branches, and agencies of foreign banks located in the United 
     States; banks insured by the Federal Deposit Insurance 
     Corporation (other than members of the Federal Reserve 
     System); and savings associations the deposits of which are 
     insured by the Federal Deposit Insurance Corporation.''.
       (b) Amendment to Section 501.--Section 501(a) of the 
     Depository Institutions Deregulation and Monetary Control Act 
     of 1980 (12 U.S.C. 1735f-7a) is amended--
       (1) in the first sentence of subsection (c), by striking 
     ``Federal Home Loan Bank Board'' and inserting ``Federal 
     Banking Commission'':
       (2) in subsection (f), by striking ``Federal Home Loan Bank 
     Board'' and inserting ``Federal Banking Commission''.
       (c) Amendments to Section 731.--Section 731 of the 
     Depository Institutions Deregulation and Monetary Control Act 
     of 1980 (12 U.S.C. 216) is amended--
       (1) in the introductory text, by striking ``Comptroller of 
     the Currency'' and inserting ``Federal Banking Commission'';
       (2) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission''.
       (d) Amendment to Section 732.--Section 732 of the 
     Depository Institutions Deregulation and Monetary Control Act 
     of 1980 (12 U.S.C. 216a(1)) is amended--
       (1) by amending paragraph (1) to read as follows:
       ``(1) the term `Commission' means the Federal Banking 
     Commission;''; and
       (2) in paragraph (2), by striking ``Comptroller'' and 
     inserting ``Commission''.
       (e) Amendments to Section 733.--Section 733 of the 
     Depository Institutions Deregulation and Monetary Control Act 
     of 1980 (12 U.S.C. 216b) is amended--
       (1) in subsection (a), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission'';
       (3) in subsection (c)--
       (A) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission'';
       (B) in paragraph (2), by striking ``his'' and inserting 
     ``its'';
       (4) in subsection (d), by striking ``Comptroller'' and 
     inserting ``Commission'';
       (5) in subsection (e), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission''; and
       (6) in subsection (f), by striking ``Comptroller'' each 
     place it appears and inserting ``Commission''.
       (f) Amendment to Section 734.--Section 734 of the 
     Depository Institutions Deregulation and Monetary Control Act 
     of 1980 (12 U.S.C. 216c) is amended by striking 
     ``Comptroller'' and inserting ``Commission''.

     SEC. 622. AMENDMENTS TO THE DEPOSITORY INSTITUTIONS DISASTER 
                   RELIEF ACT OF 1992.

       (a) Amendments to Section 3.--Section 3 of the Depository 
     Institutions Disaster Relief Act of 1992 (12 U.S.C. 4008 
     note) is amended--
       (1) in subsection (a)--
       (A) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission'';
       (B) by striking ``Board'' and inserting ``Commission'';
       (2) in subsection (b)--
       (A) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission'';
       (B) by striking ``Board'' and inserting ``Commission''; and
       (3) in subsection (d), by striking ``Board of Governors of 
     the Federal Reserve System'' and inserting ``Federal Banking 
     Commission''.
       (b) Amendments to Section 4.--Section 4 of the Depository 
     Institutions Disaster Relief Act of 1992 (12 U.S.C. 1831o 
     note) is amended--
       (1) in subsection (a)--
       (A) by striking ``appropriate Federal banking agency'' and 
     inserting ``Federal Banking Commission'';
       (B) by striking ``if the agency determines'' and inserting 
     ``if the Commission determines'';
       (2) in subsection (b)--
       (A) by striking paragraph (1); and
       (B) by redesignating paragraphs (2) through (4) as 
     paragraphs (1) through (3), respectively.
       (b) Amendments to Section  5.--Subsection 5(c) of the 
     Depository Institutions Disaster Relief Act of 1992 (12 
     U.S.C. 1828 note) is amended--
       (1) in paragraph (1), by striking ``Board of Governors of 
     the Federal Reserve System;'' and inserting ``the Federal 
     Banking Commission;'';
       (2) by striking paragraphs (2), (3), (4), and (5);
       (3) by redesignating paragraphs (6) and (7) as paragraphs 
     (2) and (3), respectively.
       (c) Amendments to Section 7.--Section 7 of the Depository 
     Institutions Disaster Relief Act of 1992 (omitted from United 
     States Code) is amended by striking ``the Board of Governors 
     of the Federal Reserve System, the Comptroller of the 
     Currency, the Director of the Office of Thrift Supervision, 
     the Federal Deposit Insurance Corporation'' and inserting 
     ``the Federal Banking Commission''.

     SEC. 623. AMENDMENTS TO THE DEPOSITORY INSTITUTIONS DISASTER 
                   RELIEF ACT OF 1993.

       (a) Amendments to Section 2.--Section 2 of the Depository 
     Institutions Disaster Relief Act of 1993 (12 U.S.C. 4008 
     note) is amended--
       (1) in subsection (a)--
       (A) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission'';
       (B) by striking ``Board'' and inserting ``Commission'';
       (2) in subsection (b)--
       (A) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission'';
       (B) by striking ``Board'' and inserting ``Commission'';
       (3) in subsection (d), by striking ``Board of Governors of 
     the Federal Reserve System'' and inserting ``Federal Banking 
     Commission''.
       (b) Amendments to Section 3.--Section 3 of the Depository 
     Institutions Disaster Relief Act of 1993 (12 U.S.C. 1831o 
     note) is amended by--
       (1) in subsection (a), by striking ``appropriate Federal 
     banking agency'' and inserting ``Federal Banking 
     Commission''; and
       (2) in subsection (c)--
       (A) by striking paragraph (1); and
       (B) by redesignating paragraphs (2), (3), and (4) as 
     paragraphs (1), (2), and (3), respectively.
       (c) Amendments to Section 4.--Subsection 4(c) of the 
     Depository Institutions Disaster Relief Act of 1993 (12 
     U.S.C. 1828 note) is amended--
       (1) in paragraph (1), by striking ``Board of Governors of 
     the Federal Reserve System;'' and inserting ``the Federal 
     Banking Commission;'';
       (2) by striking paragraphs (2), (3), (4), and (5);
       (3) by redesignating paragraphs (6) and (7) as paragraphs 
     (2) and (3), respectively.
       (d) Amendment to Section 5.--Subsection 5(a) of the 
     Depository Institutions Disaster Relief Act of 1993 (12 
     U.S.C. 1811 note) is amended by striking ``appropriate 
     Federal banking agencies (as defined in section 3 of the 
     Federal Deposit Insurance Act)'' and inserting ``Federal 
     Banking Commission''; and
       (e) Amendment to Section 6.--Section 6 of the Depository 
     Institutions Disaster Relief Act of 1993 (omitted from the 
     United States Code) is amended by striking ``the Board of 
     Governors of the Federal Reserve System, the Comptroller of 
     the Currency, the Director of the Office of Thrift 
     Supervision, the Federal Deposit Insurance Corporation,'' and 
     inserting ``the Federal Banking Commission''.

     SEC. 624. AMENDMENTS TO THE DEPOSITORY INSTITUTION MANAGEMENT 
                   INTERLOCKS ACT.

       (a) Amendments to Section 202.--Subsection 202 of the 
     Depository Institution Management Interlocks Act (12 U.S.C. 
     3201) is amended--
       (1) in paragraph (2), by striking ``section 408(a)(1)(D) of 
     the National Housing Act'' and inserting ``section 
     10(a)(1)(D) of the Home Owner's Loan Act'';
       (2) in paragraph (3)(A), by striking ``section 408(a)(1)(H) 
     of the National Housing Act'' and inserting ``section 
     10(a)(1)(G) of the Home Owners' Loan Act''.
       (b) Amendments to Section 205.--Section 205 of the 
     Depository Institution Management Interlocks Act (12 U.S.C. 
     3204) is amended--
       (1) in paragraph (8)(A), by striking ``section 408(a)(1)(F) 
     of the National Housing Act'' and inserting ``section 
     10(a)(1)(F) of the Home Owners' Loan Act''; and
       (2) in paragraph 9, by striking ``Director of the Office of 
     Thrift Supervision'' and inserting ``Federal Banking 
     Commission''.
       (c) Amendment to Section 207.--Section 207 of the 
     Depository Institution Management Interlocks Act (12 U.S.C. 
     3206) is amended to read as follows:
       ``Sec. 207. This title shall be administered and enforced 
     by--
       ``(1) the Federal Banking Commission with respect to 
     national banks, banks located in the District of Columbia, 
     State banks which are members of the Federal Reserve System, 
     bank holding companies, State banks which are not members of 
     the Federal Reserve System but the deposits of which are 
     insured by the Federal Deposit Insurance Corporation, savings 
     associations, and savings and loan holding companies;
       ``(2) the National Credit Union Administration with respect 
     to credit unions the accounts of which are insured by the 
     National Credit Union Administration; and
       ``(3) upon referral by the agencies named in the foregoing 
     paragraphs, the Attorney General shall have the authority to 
     enforce compliance by any person with this title.''.
       (e) Amendment to Section 209.--Section 209 of the 
     Depository Institution Management Interlocks Act (12 U.S.C. 
     3207) is amended to read as follows:
       ``Sec. 209. Rules and regulation to carry out this title, 
     including rules or regulations which permit service by a 
     management official which would otherwise be prohibited by 
     section 203 or section 204, may be prescribed by--
       ``(1) the Federal Banking Commission with respect to 
     national banks, banks located in the District of Columbia, 
     State banks which are members of the Federal Reserve System, 
     bank holding companies, State banks which are not members of 
     the Federal Reserve System but the deposits of which are 
     insured by the Federal Deposit Insurance Corporation, savings 
     associations, and savings and loan holding companies; and
       ``(2) the National Credit Union Administration with respect 
     to credit unions the accounts of which are insured by the 
     National Credit Union Administration.''.
       (f) Amendment to Section 210.--Subsection 210(a) of the 
     Depository Institution Management Interlocks Act (12 U.S.C. 
     3208(a)) is amended by striking ``his'' and inserting ``his 
     or her''.

     SEC. 625. AMENDMENTS TO THE ELECTRONIC FUND TRANSFER ACT.

       (a) Amendments to Section 903.--Section 903 of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693a) is amended--
       (1) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission''; and
       (2) by amending (3) to read as follows:
       ``(3) the term `Commission' means the Federal Banking 
     Commission.'';
       (3) in paragraph (6), by striking ``Board'' and inserting 
     ``Commission''.
       (b) Amendment to Section 904.--Section 904 of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693b) is amended--
       (1) in subsection (a), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (3) in subsection (c), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (4) in subsection (d), by striking ``Board'' and inserting 
     ``Commission''.
       (c) Amendment to Section 905.--Section 905 of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693c) is amended--
       (1) in subsection (a)--
       (A) in the first sentence of the introductory text, by 
     striking ``Board'' and inserting ``Commission'';
       (B) in the paragraph (3), by striking ``Board'' and 
     inserting ``Commission'';
       (C) in the paragraph (7), by striking ``Board'' and 
     inserting ``Commission''; and
       (2) in the third sentence of subsection (b), by striking 
     ``Board'' and inserting ``Commission''.
       (d) Amendment to Section 906.--Subsection 906(b) of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693d(b)) is amended 
     in the first sentence by striking ``Board'' and inserting 
     ``Commission''.
       (e) Amendment to Section 907.--Subsection 907(b) of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693e(b)) is amended 
     by striking ``Board'' and inserting ``Commission''.
       (f) Amendment to Section 908.--Subsection 908(f)(7) of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693f(f)(7)) is 
     amended by striking ``Board'' and inserting ``Commission''.
       (g) Amendment to Section 910.--Subsection 910(a)(1)(E) of 
     the Electronic Fund Transfer Act (15 U.S.C. 1693h(a)(1)(E)) 
     is amended by striking ``Board'' and inserting 
     ``Commission''.
       (h) Amendment to Section 911.--Subsection 911(b)(3) of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693i(b)(3)) is 
     amended by striking ``Board'' and inserting ``Commission''.
       (i) Amendments to Section 915.--Subsection 915(d) of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693m(d)) is 
     amended--
       (1) in paragraph (1)--
       (A) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (B) by striking ``Federal Reserve System'' and inserting 
     ``Commission''; and
       (2) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission'';
       (j) Amendments to Section 917.--Section 917 of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693o) is amended--
       (1) in subsection (a)--
       (A) by amending paragraph (1) to read as follows:
       ``(1) section 8 of the Federal Deposit Insurance Act (12 
     U.S.C. 1818), by the Federal Banking Commission with respect 
     to national banks, member banks of the Federal Reserve System 
     (other than national banks), branches and agencies of foreign 
     banks located in the United States, commercial lending 
     companies owned or controlled by foreign banks and 
     organizations operating under section 25 of 25A of the 
     Federal Reserve Act, banks insured by the Federal Deposit 
     Insurance Corporation (other than members of the Federal 
     Reserve System), and savings associations the deposits of 
     which are insured by the Federal Deposit Insurance 
     Corporation;'';
       (B) by striking paragraph (2);
       (C) by redesignating paragraphs (3) through (5) as 
     paragraphs (2) through (4);
       (2) in subsection (c), by amending the last sentence to 
     read as follows:
       ``All of the functions and powers of the Federal Trade 
     Commission under the Federal Trade Commission under the 
     Federal Trade Commission Act are available to the Federal 
     Trade Commission to enforce compliance by any person subject 
     to the jurisdiction of the Federal Trade Commission with the 
     requirements imposed under this title, irrespective of 
     whether that person is engaged in commerce or meets any other 
     jurisdictional tests in the Federal Trade Commission Act.''
       (k) Amendment to Section 918.--Section 918 of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693p) is amended--
       (1) in subsection (a), by striking ``Board'' each place it 
     appears and inserting ``Commission''; and
       (2) in subsection (b), by striking ``Board'' each place it 
     appears and inserting ``Commission''.
       (l) Amendment to Section 919.--Section 919 of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693q) is amended by 
     striking ``Board'' each place it appears and inserting 
     ``Commission''.
       (m) Amendment to Section 920.--Section 920 of the 
     Electronic Fund Transfer Act (15 U.S.C. 1693r) is amending by 
     striking ``Board'' each place it appears and inserting 
     ``Commission''.

     SEC. 626. AMENDMENTS TO THE EMERGENCY HOMEOWNER'S RELIEF ACT.

       Section 110 of the Emergency Homeowner's Relief Act (12 
     U.S.C. 2709) is amended in the last sentence by striking 
     ``Board of Governors of the Federal Reserve System, the Board 
     of Directors of the Federal Deposit Insurance Corporation, 
     the Comptroller of the Currency, the Federal Home Loan Bank 
     Board, the Federal Savings and Loan Insurance Corporation,'' 
     and inserting ``Federal Banking Commission''.

     SEC. 627. AMENDMENTS TO THE EQUAL CREDIT OPPORTUNITY ACT.

       (a) Amendment to Section 701.--Section 701 of the Equal 
     Credit Opportunity Act (15 U.S.C. 1691) is amended--
       (1) in subsection (b)--
       (A) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission'';
       (B) in paragraph (3), by striking ``Board'' and inserting 
     ``Commission'';
       (2) in subsection (c)(3), by striking ``Board'' and 
     inserting ``Commission'';
       (3) in subsection (d)--
       (A) in paragraph (1), by striking ``Board'' and inserting 
     ``Commission''; and
       (B) in paragraph (5), by striking ``Board'' and inserting 
     ``Commission''.
       (b) Amendments to Section 702.--Section 702 of the Equal 
     Credit Opportunity Act (15 U.S.C. 1691a) is amended--
       (1) by amending subsection (c) to read as follows:
       ``(c) The term `Commission' means the Federal Banking 
     Commission.''; and
       (2) in subsection (g), by striking ``Board'' and inserting 
     ``Commission''.
       (c) Amendment to Section 703.--Section 703 of the Equal 
     Credit Opportunity Act (15 U.S.C. 1691b) is amended--
       (1) in subsection (a)--
       (A) in paragraph (1), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (B) in paragraph (3), by striking ``Board'' and inserting 
     ``Commission'';
       (C) in paragraph (4), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (D) in paragraph (5), by striking ``Board'' and inserting 
     ``Commission'';
       (2) in subsection (b), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (d) Amendments to Section 704.--Section 704 of the Equal 
     Credit Opportunity Act (15 U.S.C. 1691c) is amended--
       (1) in subsection (a)--
       (A) by amending paragraph (1) to read as follows:
       ``(1) section 8 of the Federal Deposit Insurance Act (12 
     U.S.C. 1818) by the Federal Banking Commission in the case of 
     national banks, member banks of the Federal Reserve System 
     (other than national banks), branches and agencies of foreign 
     banks, commercial lending companies owned or controlled by 
     foreign banks and organizations operating under section 25 or 
     25A of the Federal Reserve Act, banks insured by the Federal 
     Deposit Insurance Corporation (other than members of the 
     Federal Reserve System), and savings associations the 
     deposits of which are insured by the Federal Deposit 
     Insurance Corporation;'';
       (B) by striking paragraph (2);
       (C) by redesignating paragraphs (3) through (9) as 
     paragraphs (2) through (8);
       (2) in the third sentence of subsection (c)--
       (A) by striking ``available to the Commission'' and 
     inserting ``available to the Federal Trade Commission'';
       (B) by striking ``Federal Reserve Board'' and inserting 
     ``Federal Banking Commission''; and
       (3) in subsection (d), by striking ``Board'' and inserting 
     ``Commission''.
       (e) Amendment to Section 705.--Section 705 of the Equal 
     Credit Opportunity Act (15 U.S.C. 1691d) is amended--
       (1) in subsection (f), by striking ``Board'' each place it 
     appears and inserting ``Commission''; and
       (2) in subsection (g), by striking ``Board'' and inserting 
     ``Commission''.
       (f) Amendments to Section 706.--Section 706 of the Equal 
     Credit Opportunity Act (15 U.S.C. 1691e) is amended--
       (1) in subsection (e)--
       (A) by striking ``Board'' each place it appears and 
     inserting ``Commission'';
       (B) by striking ``Federal Reserve System'' and inserting 
     ``Commission'';
       (2) in subsection (g), by striking ``paragraphs (1), (2) 
     and (3)'' and inserting ``paragraphs (1) and (2)''; and
       (3) in subsection (k), by striking ``paragraphs (1), (2) 
     and (3)'' and inserting ``paragraphs (1) and (2)''.
       (g) Amendment to Section 707.--Section 707 of the Equal 
     Credit Opportunity Act (15 U.S.C. 1691f) is amended by 
     striking ``Board'' each place it appears and inserting 
     ``Commission''.

     SEC. 628. AMENDMENTS TO THE EXPEDITED FUNDS AVAILABILITY ACT.

       (a) Amendments to Section 602.--Section 602 of the 
     Expedited Funds Availability Act (12 U.S.C. 4001) is 
     amended--
       (1) by amending paragraph (2) to read as follows:
       ``(2) Commission.--The term `Commission' means the Federal 
     Banking Commission.'';
       (2) in paragraph (9), by striking ``Board'' and inserting 
     ``Commission'';
       (3) in paragraph (11), by striking ``Board'' and inserting 
     ``Commission'';
       (4) in paragraph (14)(C), by striking ``Board'' and 
     inserting ``Commission'';
       (5) in paragraph (16)(A)(ii), by striking ``Board'' and 
     inserting ``Commission''; and
       (6) in paragraph (25), by striking ``Board'' and inserting 
     ``Commission''.
       (b) Amendment to Section 603.--Section 603 of the Expedited 
     Funds Availability Act (12 U.S.C. 4002) is amended--
       (1) in subsection (b)(4), by striking ``Board'' and 
     inserting ``Commission'';
       (2) in subsection (d)(1), by striking ``Board'' and 
     inserting ``Commission''; and
       (3) in subsection (e)(3), by striking ``Board'' and 
     inserting ``Commission''.
       (c) Amendment to Section 604.--Section 604 of the Expedited 
     Funds Availability Act (12 U.S.C. 4003) is amended--
       (1) in the introductory text of subsection (a), by striking 
     ``Board'' and inserting ``Commission'';
       (2) in the introductory text of subsection (b), by striking 
     ``Board'' and inserting ``Commission'';
       (3) in the first sentence of subsection (c)(1), by striking 
     ``Board'' and inserting ``Commission'';
       (4) in the introductory text of subsection (d), by striking 
     ``Board'' and inserting ``Commission'';
       (5) in subsection (e)--
       (A) in paragraph (1), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (B) in paragraph (3)--
       (i) in subparagraph (A), by striking ``Board'' and 
     inserting ``Commission'';
       (ii) in subparagraph (B)(ii), by striking ``Board'' and 
     inserting ``Commission'';
       (6) in subsection (f)--
       (A) in paragraph (1)(B), by striking ``Board'' and 
     inserting ``Commission'';
       (B) in paragraph (2)--
       (i) in subparagraph (C), by striking ``Board'' and 
     inserting ``Commission'';
       (ii) in subparagraph (D), by striking ``Board'' and 
     inserting ``Commission'';
       (iii) in subparagraph (E).
       (d) Amendment to Section 605.--Section 605 of the Expedited 
     Funds Availability Act (12 U.S.C. 4004) is amended by 
     striking ``Board'' each place it appears and inserting 
     ``Commission''.
       (e) Amendment to Section 608.--Subsection 608(a) of the 
     Expedited Funds Availability Act (12 U.S.C. 4007(a)) is 
     amended--
       (1) in the introductory text, by striking ``Board'' and 
     inserting ``Commission''; and
       (2) in paragraph (1), by striking ``Board'' and inserting 
     ``Commission''.
       (f) Amendments to Section 609.--Section 609 of the 
     Expedited Funds Availability Act (12 U.S.C. 4008) is 
     amended--
       (1) in the introductory text of subsection (a), by striking 
     ``Board'' and inserting ``Commission'';
       (2) in subsection (b)--
       (A) in the introductory text, by striking ``Board'' and 
     inserting ``Commission'';
       (B) in paragraph (5)(B), by striking ``Board'' and 
     inserting ``Commission'';
       (C) in paragraph (6), by striking ``Board'' and inserting 
     ``Commission'';
       (D) in paragraph (8), by striking ``Board'' and inserting 
     ``Commission'';
       (3) in subsection (c)--
       (A) in the heading, by striking ``Board'' and inserting 
     ``Commission'';
       (B) in paragraph (1), by striking ``Board of Governors of 
     the Federal Reserve System'' and inserting ``Commission''; 
     and
       (C) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission'';
       (4) in subsection (d)--
       (A) in paragraph (1)(A), by striking ``Board'' and 
     inserting ``Commission'';
       (B) in paragraph (2)--
       (i) in subparagraph (A), by striking ``Board'' and 
     inserting ``Commission'';
       (ii) in subparagraph (B), by striking ``Board'' and 
     inserting ``Commission'';
       (5) in subsection (e)--
       (A) by striking ``Board'' and inserting ``Commission'';
       (B) by striking ``the Comptroller of the Currency, the 
     Board of Directors of the Federal Deposit Insurance 
     Corporation, the Federal Home Loan Bank Board,'';
       (6) in subsection (f)--
       (A) in paragraph (1), by striking ``Board'' and inserting 
     ``Commission'';
       (B) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission'';
       (C) in paragraph (3), by striking ``Board'' and inserting 
     ``Commission'';
       (g) Amendments to Section 610.--Section 610 of the 
     Expedited Funds Availability Act (12 U.S.C. 4009) is 
     amended--
       (1) in subsection (a)
       (A) in the introductory text, by striking ``Board of 
     Governors of the Federal Reserve System'' and inserting 
     ``Commission'';
       (B) by amending paragraph (1) to read as follows:
       ``(1) section 8 of the Federal Deposit Insurance Act (12 
     U.S.C. 1818), by the Commission with respect to national 
     banks; member banks of the Federal Reserve System (other than 
     national banks); offices, branches, and agencies of foreign 
     banks located in the United States; banks insured by the 
     Federal Deposit Insurance Corporation (other than members of 
     the Federal Reserve System); and savings associations the 
     deposits of which are insured by the Federal Deposit 
     Insurance Corporation;'';
       (C) by striking paragraph (2);
       (D) by redesignating paragraph (3) as paragraph (2);
       (2) in subsection (c)--
       (A) in the heading, by striking ``Board'' and inserting 
     ``Commission'';
       (B) in paragraph (1), by striking ``Board of Governors of 
     the Federal Reserve System'' and inserting ``Commission'';
       (C) in paragraph (2), by striking ``Board'' each place it 
     appears and inserting ``Commission''; and
       (3) in subsection (d), by striking ``Board'' and inserting 
     ``Commission''.
       (h) Amendments to Section 611.--Section 611 of the 
     Expedited Funds Availability Act (12 U.S.C. 4010) is 
     amended--
       (1) in subsection (e)--
       (A) in the heading, by striking ``Board'' and inserting 
     ``Commission'';
       (B) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Commission'';
       (2) in subsection (f), by striking ``Board'' and inserting 
     ``Commission''.

     SEC. 629. AMENDMENTS TO FAIR CREDIT REPORTING ACT.

       (a) Amendment to Section 601.--Section 601 of the Fair 
     Credit Reporting Act of 1987 (15 U.S.C. 1601 note) is amended 
     by striking ``Fair Credit Reporting Act'' and inserting `` 
     `Fair Credit Reporting Act' ''.
       (b) Amendments to Section 621.--Subsection 621(b) of the 
     Fair Credit Reporting Act of 1987 (15 U.S.C. 1681s(b)) is 
     amended--
       (1) by amending paragraph (1) to read as follows:
       (1) section 8 of the Federal Deposit Insurance Act, by the 
     Federal Banking Commission with respect to national banks, 
     member banks of the Federal Reserve System (other than 
     national banks), branches and agencies of foreign banks, 
     commercial lending companies owned or controlled by foreign 
     banks, organizations operating under section 25 or 25A of the 
     Federal Reserve Act, banks insured by the Federal Deposit 
     Insurance Corporation (other than members of the Federal 
     Reserve System), and savings associations insured by the 
     Federal Deposit Insurance Corporation;'';
       (2) by striking paragraph (2); and
       (3) by redesignating paragraphs (3) through (6) as 
     paragraphs (2) through (5), respectively.

     SEC. 630. AMENDMENTS TO THE FAIR DEBT COLLECTION PRACTICES 
                   ACT.

       (a) Amendments to Section 814.--Subsection 814(b) of the 
     Fair Debt Collection Practices Act (15 U.S.C. 1692l(b)) is 
     amended--
       (1) by amending paragraph (1) to read as follows:
       ``(1) section 8 of the Federal Deposit Insurance Act, in 
     the case of national banks, member banks of the Federal 
     Reserve System (other than national banks), branches and 
     agencies of foreign banks, commercial lending companies owned 
     or controlled by foreign banks, organizations operating under 
     section 25 or 25A of the Federal Reserve Act, banks insured 
     by the Federal Deposit Insurance Corporation (other than 
     members of the Federal Reserve System), and savings 
     associations the deposits of which are insured by the Federal 
     Deposit Insurance Corporation;'';
       (2) by striking paragraph (2); and
       (3) by redesignating paragraphs (3) through (6) as 
     paragraphs (2) through (5), respectively.

     SEC. 631. AMENDMENTS TO THE FEDERAL CREDIT UNION ACT.

       (a) Amendments to Section 206.--Section 206 of the Federal 
     Credit Union Act (12 U.S.C. 1786) is amended--
       (1) in subsection (g)(7)--
       (A) in subparagraph (A)--
       (i) in clause (v), by striking ``depository institution'' 
     and inserting ``financial institutions'';
       (ii) in clause (vi), by striking ``and'';
       (iii) in clause (vii), by striking the period and inserting 
     a semicolon; and
       (iv) by inserting the following clauses after the end of 
     clause (vii):
       ``(viii) the Federal Deposit Insurance Corporation;'' and
       ``(ix) the Board of Governors of the Federal Reserve 
     System.''; and
       (B) by striking subparagraph (D)(i), and inserting the 
     following:
       ``(i) the Federal Banking Commission, in the case of an 
     insured depository institution or depository institution 
     holding company (as those terms are defined in section 3 of 
     the Federal Deposit Insurance Act);''; and
       (b) in subsection (u), by striking ``appropriate Federal 
     banking agency'' each place it appears and inserting 
     ``Federal banking agency (as defined in section 3(z) of the 
     Federal Deposit Insurance Act)''.

     SEC. 632. AMENDMENTS TO THE FEDERAL DEPOSIT INSURANCE 
                   CORPORATION IMPROVEMENT ACT OF 1991.

       (a) Amendments to Section 111.--Subsection 111(d) of the 
     Federal Deposit Insurance Corporation Improvement Act of 1991 
     (12 U.S.C. 3305 note) is amended--
       (1) by amending paragraph (1) to read as follows:
       ``(1) In general.--The Federal Banking Commission shall 
     establish an examination improvement program that meets the 
     requirements of paragraph (2).''
       (2) in paragraph (2), by striking ``agency'' each place it 
     appears and inserting ``Federal Banking Commission''.
       (b) Amendments to Section 122.--Section 122 of the Federal 
     Deposit Insurance Corporation Improvement Act of 1991 (12 
     U.S.C. 1817 note) is amended--
       (1) in subsection (a), by striking ``appropriate Federal 
     banking agency'' and inserting ``Federal Banking 
     Commission''; and
       (2) in subsection (b), by striking ``agency'' and inserting 
     ``Federal Banking Commission''.
       (c) Amendments to Section 305.--Subsection 305(b) of the 
     Federal Deposit Insurance Corporation Improvement Act of 1991 
     (12 U.S.C. 1828 note) is amended--
       (1) in paragraph (1), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Federal Banking 
     Commission'';
       (2) in paragraph (2), by striking ``Federal banking 
     agencies'' and inserting ``Federal Banking Commission'';
       (3) in paragraph (3), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Federal Banking 
     Commission''; and
       (4) by amending paragraph (4) to read as follows:
       ``(4) Definitions.--For purposes of this subsection, the 
     term `insured depository institution' has the same meaning as 
     in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 
     1813).''.
       (d) Amendments to Section 311.--Subsection 311(d) of the 
     Federal Deposit Insurance Corporation Improvement Act of 1991 
     (12 U.S.C. 1821 note) is amended--
       (1) in paragraph (1), by striking ``any appropriate Federal 
     banking agency'' and inserting ``the Federal Banking 
     Commission'';
       (2) in paragraph (4)--
       (A) in the heading, by striking ``Federal Reserve Board'' 
     and inserting ``Federal Banking Commission''; and
       (B) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission''.
       (e) Amendments to Section 475.--Section 475 of the Federal 
     Deposit Insurance Corporation Improvement Act of 1991 (12 
     U.S.C. 1828 note) is amended--
       (1) in subsection (a), by striking ``each appropriate 
     Federal banking agency'' and inserting ``the Federal Banking 
     Commission'';
       (2) by amending subsection (b) to read as follows:
       ``(b) Definitions.--For purposes of this subsection, the 
     term `insured depository institution' has the same meaning as 
     in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 
     1813).''.
       (f) Amendment to Section 477.--Section 477 of the Federal 
     Deposit Insurance Corporation Improvement Act of 1991 (12 
     U.S.C. 251) is amended by striking ``Federal Reserve Board'' 
     each place it appears and inserting ``Federal Banking 
     Commission''.

     SEC. 633. AMENDMENTS TO THE FEDERAL FINANCIAL INSTITUTIONS 
                   EXAMINATION COUNCIL ACT OF 1978.

       (a) Repeal of Provisions Relating to FFIEC.--The following 
     sections of the Federal Financial Institutions Examination 
     Council Act of 1978 are repealed:
       (1) Section 1002 (12 U.S.C. 3301).
       (2) Section 1004 (12 U.S.C. 3303).
       (3) Section 1005 (12 U.S.C. 3304).
       (4) Section 1007 (12 U.S.C. 3306).
       (5) Section 1008 (12 U.S.C. 3307).
       (6) Section 1009 (12 U.S.C. 3308).
       (7) Section 1009A (12 U.S.C. 3309).
       (b) Amendments to Section 1003.--Section 1003 of the 
     Federal Financial Institutions Examination Council Act of 
     1978 (12 U.S.C. 3302) is amended--
       (1) by amending paragraph (1) to read as follows:
       ``(1) the term `Federal financial institutions regulatory 
     agencies' means the Federal Banking Commission and the 
     National Credit Union Administration; and'';
       (2) by striking paragraph (2); and
       (3) by redesignating paragraph (3) as paragraph (2).
       (c) Amendments to Section 1006.--Section 1006 of the 
     Federal Financial Institutions Examination Council Act of 
     1978 (12 U.S.C. 3305) is amended--
       (1) in the heading, by striking ``FUNCTIONS OF COUNCIL'' 
     and inserting ``SCHOOLS FOR EXAMINERS'';
       (2) by striking subsections (a), (b), (c), (e), and (f);
       (3) in subsection (d)--
       (A) by striking ``(d) Conducting Schools for Examiners and 
     Assistant Examiners''; and
       (B) by striking ``Council'' each place it appears and 
     inserting ``Federal Banking Commission''.

     SEC. 634. AMENDMENTS TO THE FEDERAL HOME LOAN BANK ACT.

       (a) Amendments to Section 2.--Section 2 of the Federal Home 
     Loan Bank Act (12 U.S.C. 1422) is amended by adding the 
     following:
       ``(13) Commission.--The term `Commission' means the Federal 
     Banking Commission.''
       (b) Amendments to Section 18.--Subsection 18(c) of the 
     Federal Home Loan Bank Act (12 U.S.C. 1438(c)) is amended--
       (1) by striking ``Director of the Office of Thrift 
     Supervision'' each place it appears and inserting 
     ``Commission'';
       (2) in paragraph (1)(B), by striking ``and the agencies 
     under its administration or supervision'';
       (3) in paragraph (5), by striking ``and such agencies''.
       (c) Amendments to Section 21A.--Section 21A of the Federal 
     Home Loan Bank Act (12 U.S.C. 1441a) is amended--
       (1) in subsection (a)(3)(A)(iii), by striking ``Director of 
     the Office of Thrift Supervision'' and inserting 
     ``Chairperson of the Commission'';
       (2) in subsection (b)(10(A)(iv), by striking ``Director of 
     the Office of Thrift Supervision'' and inserting 
     ``Commission'';
       (3) in subsection (c)(9), by striking ``the'' before 
     ``Housing and Urban Development'';
       (4) by amending subsection (e)(2)(B) to read as follows:
       ``(B) be subject to the supervision of the Commission.'';
       (5) in subsection (f)(1)(C), by striking ``an 
     appropriate''; and inserting ``any'';
       (6) in subsection (k)(9)--
       (A) by striking ``Director of the Office of Thrift 
     Supervision'' and inserting ``Commission'';
       (B) by striking ``Director'' and inserting ``Commission'';
       (7) in subsection (q)--
       (A) in paragraph (1), by striking ``appropriate Federal 
     banking agency (as defined in section 3(q)'' and inserting 
     ``Federal banking agency (as defined in section 3(z)''; and
       (B) in paragraph (4)(B), by striking ``appropriate''.
       (d) Amendments to Section 22.--Subsection 22(a) of the 
     Federal Home Loan Bank Act (12 U.S.C. 1442a) is amended--
       (1) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Commission''; and
       (2) by striking ``Director of the Office of Thrift 
     Supervision'' each place it appears.

     SEC. 635. AMENDMENTS TO THE FEDERAL RESERVE ACT.

       (a) Amendments to Section 2.--The sixth undesignated 
     paragraph of section 2 of the Federal Reserve Act (12 U.S.C. 
     501a) is amended by deleting ``under direction of the Board 
     of Governors of the Federal Reserve System by the Comptroller 
     of the Currency in his own name'' and inserting ``Federal 
     Banking Commission in its own name''.
       (b) Amendments to Section 4.--Section 4 of the Federal 
     Reserve Act is amended--
       (1) in the first undesignated paragraph (omitted from the 
     United States Code), by striking ``Comptroller of the 
     Currency'' each place it appears and inserting ``Federal 
     Banking Commission'';
       (2) in the third undesignated paragraph (omitted from the 
     United States Code)--
       (A) by striking ``Comptroller of the Currency, who'' and 
     inserting ``Federal Banking Commission, which''; and
       (B) by striking ``his office'' and inserting ``its 
     office'';
       (3) in the first sentence of the fourth undesignated 
     paragraph (12 U.S.C. 341), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''; and
       (4) in the fifth undesignated paragraph (12 U.S.C. 341), by 
     striking ``Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission''.
       (c) Amendment to Section 6.--The first sentence of the 
     second undesignated paragraph of section 6 of the Federal 
     Reserve Act (12 U.S.C. 288) is amended by striking 
     ``Comptroller of the Currency may, if he deems it 
     advisable,'' and inserting ``Federal Banking Commission may, 
     if it deems it advisable,''.
       (d) Amendments to Section 9.--Section 9 of the Federal 
     Reserve Act is amended--
       (1) in the third undesignated paragraph (12 U.S.C. 321)--
       (A) in the second sentence, by striking ``Board of 
     Governors of the Federal Reserve System, instead of the 
     Comptroller of the Currency,'' and inserting ``Federal 
     Banking Commission''; and
       (B) in the third sentence, by striking ``Board'' and 
     inserting ``Federal Banking Commission'';
       (2) in the sixth undesignated paragraph (12 U.S.C. 324)--
       (A) in the first sentence--
       (i) by striking the semicolon following ``dividends''; and
       (ii) by striking ``except that any reference in any such 
     provision to the Comptroller of the Currency shall be deemed 
     for the purposes of this sentence to be a reference to the 
     Board of Governors of the Federal Reserve System'';
       (B) in the second sentence, by striking ``Federal Reserve 
     bank of which they become a member'' and inserting ``Federal 
     Banking Commission'';
       (C) in the third sentence, by striking ``Federal reserve 
     bank'' and inserting ``Federal Banking Commission'';
       (D) by striking ``Board of Governors of the Federal Reserve 
     System'' each place it appears and inserting ``Federal 
     Banking Commission''; and
       (E) by striking ``Board'' each place it appears and 
     inserting ``Federal Banking Commission'';
       (3) the seventh undesignated paragraph (12 U.S.C. 325) is 
     amended to read as follows:
       ``As a condition to membership such banks shall likewise be 
     subject to examinations made by the direction of the Federal 
     Banking Commission by examiners selected or approved by the 
     Federal Banking Commission.'';
       (4) in the eighth undesignated paragraph (12 U.S.C. 326)--
       (A) by striking ``Board of Governors of the Federal Reserve 
     System'' each place it appears and inserting ``Federal 
     Banking Commission''; and
       (B) in the first sentence--
       (i) by striking ``Whenever the directors of the Federal 
     reserve bank'' and inserting ``Subject to section 10(d) of 
     the Federal Deposit Insurance Act, whenever the Federal 
     Banking Commission''; and
       (ii) by striking ``the board may order'' and inserting 
     ``the Commission may order'';
       (5) in the ninth undesignated paragraph (12 U.S.C. 327) in 
     the first sentence, by inserting ``or regulations of the 
     Federal Banking Commission'' after ``regulations of the Board 
     of Governors of the Federal Reserve System'';
       (6) in the tenth undesignated paragraph (12 U.S.C. 328)--
       (A) in the first sentence--
       (i) by inserting ``and the Federal Banking Commission'' 
     after ``with the Board of Governors of the Federal Reserve 
     System''; and
       (ii) by inserting ``and after notice to the Federal Banking 
     Commission,'' after ``That the Board of Governors of the 
     Federal Reserve System, in its discretion and subject to such 
     conditions as it may prescribe,'';
       (B) in the third sentence, by inserting ``after notice to 
     the Federal Banking Commission,'' after ``Board of Governors 
     of the Federal Reserve System,'';
       (7) in the eleventh undesignated paragraph (12 U.S.C. 329), 
     in the second sentence, by inserting ``after consultation 
     with the Federal Banking Commission'' after ``Board'';
       (8) in the twelfth undesignated paragraph (omitted from the 
     United States Code)--
       (A) by striking ``subsection (y) of section 12B of this 
     Act'' and inserting ``the Federal Deposit Insurance Act'';
       (B) by striking ``such section 12B'' and inserting ``the 
     Federal Deposit Insurance Act'';
       (C) by inserting ``, after consultation with the Federal 
     Banking Commission,'' after ``the Board of Governors of the 
     Federal Reserve System'' the first place it appears; and
       (D) by inserting ``, after consultation with the Federal 
     Banking Commission,'' after ``the said Board'';
       (9) in the thirteenth undesignated paragraph (12 U.S.C. 
     330)--
       (A) in the first sentence--
       (i) by striking the comma after ``member banks'' and 
     inserting a period; and
       (ii) by striking ``but shall not be subject to 
     examination'' and all that follows through ``section twenty-
     one of this Act.'';
       (B) in the second sentence--
       (i) by inserting ``and the Federal Banking Commission'' 
     after ``the regulations of the board''; and
       (ii) by striking ``Board of Governors of the Federal 
     Reserve System'' and inserting ``Federal Banking 
     Commission'';
       (10) in the last sentence of the sixteenth undesignated 
     paragraph (12 U.S.C. 333), by inserting ``and regulations of 
     the Federal Banking Commission'' after ``regulations of the 
     Board of Governors of the Federal Reserve System'';
       (11) in the seventeenth undesignated paragraph (12 U.S.C. 
     334)--
       (A) in the first sentence, by striking ``Federal reserve 
     bank of its district and to the Board of Governors of the 
     Federal Reserve System'' and inserting ``Federal Banking 
     Commission'';
       (B) in the second, third, and fourth sentences, by striking 
     ``Board of Governors of the Federal Reserve System'' each 
     place it appears and inserting ``Federal Banking 
     Commission''; and
       (C) in the fourth sentence, by striking ``Board'' and 
     inserting ``Commission'';
       (12) in the eighteenth undesignated paragraph (12 U.S.C. 
     334)--
       (A) in the first sentence, by striking ``its Federal 
     reserve bank or the Board of Governors of the Federal Reserve 
     System'' and inserting ``the Federal Banking Commission''; 
     and
       (B) in the second sentence--
       (i) by striking ``Federal reserve bank and the Board of 
     Governors of the Federal Reserve System'' and inserting 
     ``Federal Banking Commission''; and
       (ii) by striking ``Board of Governors of the Federal 
     Reserve System'' the second place it appears and inserting 
     ``Federal Banking Commission'';
       (13) in the nineteenth undesignated paragraph (12 U.S.C. 
     334)--
       (A) by striking ``, by direction of the Board of Governors 
     of the Federal Reserve System,''; and
       (B) by striking ``Federal reserve bank of the district in 
     which such member bank is located'' and inserting ``Federal 
     Banking Commission'';
       (14) in the twenty-second undesignated paragraph (12 U.S.C. 
     338), in the first and second sentences, by striking ``Board 
     of Governors of the Federal Reserve System'' each place it 
     appears and inserting ``Federal Banking Commission''; and
       (15) in the last paragraph of section 9 (12 U.S.C. 338a)--
       (A) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission''; and
       (B) by striking ``Board'' each place it appears and 
     inserting ``Federal Banking Commission''.
       (e) Amendments to Section 9A.--Subsection 9A(e) of the 
     Federal Reserve Act (12 U.S.C. 339) is amended by striking 
     ``Board of Governors of the Federal Reserve System'' and 
     inserting ``Federal Banking Commission''.
       (f) Amendments to Section 10.--The sixth undesignated 
     paragraph of section 10 of the Federal Reserve Act (12 U.S.C. 
     246) is amended--
       (1) by inserting ``or vested by law in the Federal Banking 
     Commission'' after ``under such department'';
       (2) by inserting ``or Federal Banking Commission'' after 
     ``Secretary of the Treasury'' the second place that it 
     appears; and
       (3) by inserting ``or Federal Banking Commission, as the 
     case may be'' after ``supervision and control of the 
     Secretary''.
       (g) Amendments to Section 10B.--Subsection 10B(b) of the 
     Federal Reserve Act (12 U.S.C. 347b(b)) is amended--
       (1) in paragraph 2--
       (A) in subparagraph (A)(i) by striking ``head of the 
     appropriate Federal banking agency'' and inserting 
     ``Chairperson of the Federal Banking Commission''; and
       (B) in subparagraph (C), by striking ``head of any agency'' 
     and inserting ``Chairperson of the Federal Banking 
     Commission''; and
       (2) in paragraph (5)--
       (A) by striking subparagraph (A);
       (B) in subparagraph (E), by striking ``appropriate Federal 
     banking agency'' and inserting ``Federal Banking 
     Commission''; and
       (C) by redesignating subparagraphs (B) through (E) as 
     subparagraphs (A) through (D), respectively.
       (h) Amendments to Section 11.--Section 11 of the Federal 
     Reserve Act (12 U.S.C. 248) is amended--
       (1) in subsection (a)--
       (A) in the first sentence of paragraph (1), by striking 
     ``and of each member bank''; and
       (B) in subparagraph (B) of the second sentence of paragraph 
     (2)--
       (i) by amending clause (i) to read as follows:
       ``(i) the Federal Banking Commission in the case of 
     nonmember banks, any savings association which is an insured 
     depository institution (as defined in section 3 of the 
     Federal Deposit Insurance Act) or which is a member as 
     defined in section 2 of the Federal Home Loan Bank Act, 
     insured State nonmember banks, savings banks, and mutual 
     savings banks,'';
       (ii) by inserting ``and'' at the end of clause (ii);
       (iii) by striking clause (iii);
       (2) by inserting ``(a)'' after ``SEC. 11'';
       (3) by redesignating subsections (a)(1) and (2) as 
     paragraphs (1)(A) and (B), respectively;
       (4) in paragraph (1)(B), as so redesignated--
       (A) by redesignating subparagraphs (A) and (B) as clauses 
     (i) and (ii), respectively; and
       (B) in clause (ii), as so redesignated, by redesignating 
     clauses (i), (ii), and (iv) as subclauses (I), (II), and 
     (III), respectively;
       (5) by repealing subsection 11(m) (12 U.S.C. 248(m));
       (6) by redesignating subsections 11(b) through 11(n) as 
     paragraphs (a)(2) through (a)(13), respectively; and
       (7) in subsection 11(p) (12 U.S.C. 248)--
       (A) by striking ``Authority to Appoint Conservator or 
     Receiver.--The Board'' and inserting ``The Federal Banking 
     Commission''; and
       (B) by redesignating subsection 11(p) as subsection 11(b).
       (i) Amendment to Section 13.--The eleventh undesignated 
     paragraph of section 13 of the Federal Reserve Act (12 U.S.C. 
     92) is amended by striking ``Comptroller of the Currency'' 
     and inserting ``Federal Banking Commission''.
       (j) Amendments to Section 19.--Section 19 of the Federal 
     Reserve Act is amended--
       (1) in subsection (b) (12 U.S.C. 461(b))--
       (A) in paragraph (1)(F), by striking ``Board of Directors 
     of the Federal Deposit Insurance Corporation, the Director of 
     the Office of Thrift Supervision'' and inserting ``Federal 
     Banking Commission'';
       (B) in paragraph (4)(B), by striking ``Board of Directors 
     of the Federal Deposit Insurance Corporation, the Director of 
     the Office of Thrift Supervision'' and inserting ``Federal 
     Banking Commission''; and
       (C) in paragraph (6), by striking ``Board'' each place it 
     appears and inserting ``Federal Banking Commission''; and
       (2) in subsection (j) (12 U.S.C. 371b), by striking ``Board 
     of Directors of the Federal Deposit Insurance Corporation, 
     the Director of the Office of Thrift Supervision'' and 
     inserting ``Federal Banking Commission''.
       (k) Amendments to Section 22.--Section 22 of the Federal 
     Reserve Act is amended--
       (1) in subsection (d) (12 U.S.C. 375), by striking ``Board 
     of Governors of the Federal Reserve System'' each place it 
     appears and inserting ``Federal Banking Commission'';
       (2) in subsection (g) (12 U.S.C. 375a)--
       (A) in paragraph (4), by striking ``member bank's 
     appropriate Federal banking agency''; and inserting ``Federal 
     Banking Commission''; and
       (B) in paragraph (10), by striking ``Board of Governors of 
     the Federal Reserve System'' and inserting ``Federal Banking 
     Commission''; and
       (3) in subsection (h) (12 U.S.C. 375b)--
       (A) in paragraph (3), by striking ``appropriate Federal 
     banking agency (as defined in section 3 of the Federal 
     Deposit Insurance Act)'' and inserting ``Federal Banking 
     Commission'';
       (B) in paragraph (5)--
       (i) in subparagraph (B), by striking ``Board'' and 
     inserting ``Federal Banking Commission''; and
       (ii) in subparagraph (C), by striking ``Board'' each place 
     it appears and inserting ``Federal Banking Commission'';
       (C) in paragraph (9)(D)(ii), by striking ``Board'' each 
     place it appears and inserting ``Federal Banking 
     Commission''; and
       (D) in paragraph (10)--
       (i) in the heading, by striking ``Board's'' and inserting 
     ``Commission's''; and
       (ii) by striking ``Board of Governors of the Federal 
     Reserve System'' and inserting ``Federal Banking 
     Commission''.
       (l) Amendments to Section 23.--Section 23 of the Federal 
     Reserve Act (12 U.S.C. 371b-2) is amended--
       (1) in subsection (a), by striking ``Board'' and inserting 
     ``Federal Banking Commission'';
       (2) in subsection (c)--
       (A) in paragraph (1)(D), by striking ``Board'' and 
     inserting ``Federal Banking Commission''; and
       (B) in paragraph (2), by striking ``Board'' and inserting 
     ``Federal Banking Commission''; and
       (3) in subsection (e), by striking ``appropriate Federal 
     banking agency'' and inserting ``Federal Banking 
     Commission''.
       (m) Amendment to Section 23A.--Section 23A of the Federal 
     Reserve Act (12 U.S.C. 371c) is amended--
       (1) in subsection (b)--
       (A) in paragraph (1)(E), by striking ``Board'' and 
     inserting ``Federal Banking Commission'';
       (B) in paragraph (2)(E), by striking ``Board'' and 
     inserting ``Federal Banking Commission'';
       (C) in paragraph (3)(A)(iii), by striking ``Board'' and 
     inserting ``Federal Banking Commission''; and
       (D) in paragraph (7)(C), by striking ``Board'' and 
     inserting ``Federal Banking Commission'';
       (2) in subsection (d)(2), by striking ``Board'' and 
     inserting ``Federal Banking Commission''; and
       (3) in subsection (e)--
       (A) in paragraph (1), by striking ``Board'' and inserting 
     ``Federal Banking Commission''; and
       (B) in paragraph (2), by striking ``Board'' and inserting 
     ``Federal Banking Commission''.
       (n) Amendment to Section 23B.--Subsection 23B(e) of the 
     Federal Reserve Act (12 U.S.C. 371c-1(e)) is amended by 
     striking ``Board'' each place it appears and inserting 
     ``Federal Banking Commission''.
       (o) Amendment to Section 24.--Subsection 24(a) of the 
     Federal Reserve Act (12 U.S.C. 371(a)) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (p) Amendments to Section 24A.--Section 24A of the Federal 
     Reserve Act (12 U.S.C. 371d) is amended--
       (1) by striking ``without the approval of the Comptroller 
     of the Currency,'' and ``national bank''; and
       (2) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission''.
       (q) Amendments to Section 25.--Section 25 of the Federal 
     Reserve Act (12 U.S.C. 601-604a) is amended--
       (1) in the first undesignated paragraph--
       (A) in the introductory text, by striking ``Board of 
     Governors of the Federal Reserve System'' and inserting 
     ``Federal Banking Commission''; and
       (B) in the paragraph entitled ``Third.'', by striking 
     ``Board of Governors of the Federal Reserve System'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (2) in the second undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' and 
     inserting ``Federal Banking Commission'';
       (3) in the third undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' and 
     inserting ``Federal Banking Commission'';
       (4) in the fourth undesignated paragraph--
       (A) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (B) by striking ``Board of Governors of the Federal Reserve 
     System'' each place it appears and inserting ``Federal 
     Banking Commission'';
       (5) in the fifth undesignated paragraph--
       (A) by striking ``Board of Governors of the Federal Reserve 
     System'' each place it appears and inserting ``Federal 
     Banking Commission''; and
       (B) by striking ``said Board'' and inserting ``the Federal 
     Banking Commission''; and
       (6) in the seventh undesignated paragraph--
       (A) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission''; and
       (B) by striking ``the Board'' and inserting ``the Federal 
     Banking Commission''.
       (r) Amendments to Section 25A.--Section 25A of the Federal 
     Reserve Act (12 U.S.C. 611-631) is amended--
       (1) in the second undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' and 
     inserting ``Federal Banking Commission'';
       (2) in the fourth undesignated paragraph--
       (A) in the introductory text, by striking ``Board of 
     Governors of the Federal Reserve System'' and inserting 
     ``Federal Banking Commission''; and
       (B) in the paragraph entitled ``First.'', by striking 
     ``Board of Governors of the Federal Reserve System'' and 
     inserting ``Federal Banking Commission'';
       (3) in the fifth undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (4) in the sixth undesignated paragraph--
       (A) in the introductory text, by striking ``Board of 
     Governors of the Federal Reserve System'' and inserting 
     ``Federal Banking Commission'';
       (B) in subparagraph (a), by striking ``Board of Governors 
     of the Federal Reserve System'' each place it appears, except 
     in the last sentence, and inserting ``Federal Banking 
     Commission'';
       (C) in subparagraph (b), by striking ``Board of Governors 
     of the Federal Reserve System'' and inserting ``Federal 
     Banking Commission''; and
       (D) in subparagraph (c), by striking ``Board of Governors 
     of the Federal Reserve System'' each place it appears and 
     inserting ``Federal Banking Commission'';
       (5) in the seventh undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' and 
     inserting ``Federal Banking Commission'';
       (6) in the eighth undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (7) in the tenth undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (8) in the eleventh undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (9) in the fourteenth undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' and 
     inserting ``Federal Banking Commission'';
       (10) in the sixteenth undesignated paragraph--
       (A) by striking ``Board of Governors of the Federal Reserve 
     System'' and inserting ``Federal Banking Commission''; and
       (B) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission'';
       (11) in the seventeenth undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (12) in the twentieth undesignated paragraph, by striking 
     ``Board of Governors of the Federal Reserve System'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (13) in the twentieth-first undesignated paragraph, by 
     striking ``Board of Governors of the Federal Reserve System'' 
     each place it appears and inserting ``Federal Banking 
     Commission''; and
       (14) in the twentieth-second undesignated paragraph, by 
     striking ``Board of Governors of the Federal Reserve System'' 
     each place it appears and inserting ``Federal Banking 
     Commission''.
       (s) Amendments to Section 29.--Section 29 of the Federal 
     Reserve Act (12 U.S.C. 504) is amended--
       (1) in subsection (e), by striking ``(1) in the case of a 
     national bank, by the Comptroller of the Currency; and (2) in 
     the case of a State member bank, by the Board,'' and 
     inserting ``, in the case of a national bank or State member 
     bank, the Federal Banking Commission'';
       (2) in subsection (i), by striking ``Comptroller of the 
     Currency and the Board'' and inserting ``Federal Banking 
     Commission''; and
       (3) in subsection (m), by striking ``appropriate Federal 
     banking agency'' and inserting ``Federal Banking 
     Commission''.

     SEC. 636. AMENDMENTS TO THE FINANCIAL INSTITUTIONS REFORM, 
                   RECOVERY, AND ENFORCEMENT ACT OF 1989.

       (a) Amendments to Section 302.--Section 302 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 1467a note) is amended--
       (1) in paragraph (1), by striking ``Director of the Office 
     of Thrift Supervision'' and inserting ``Federal Banking 
     Commission''; and
       (2) in paragraph (2), by striking ``Federal Deposit 
     Insurance Corporation'' and inserting ``Federal Banking 
     Commission''.
       (b) Amendment to Section 305.--Section 305 of the Financial 
     Institutions Reform, Recovery, and Enforcement Act of 1989 
     (12 U.S.C. 1464 note) is amended--
       (1) in subsection (b)--
       (A) in paragraph (1)--
       (i) by striking ``Director of the Office of Thrift 
     Supervision'' and inserting ``Federal Banking Commission''; 
     and
       (ii) by striking ``Director'' and inserting ``Federal 
     Banking Commission''; and
       (B) in paragraph (2), by striking ``Director'' and 
     inserting ``Federal Banking Commission'';
       (2) in subsection (c)--
       (A) in paragraph (1), by striking ``appropriate Federal 
     banking agency'' and inserting ``Federal Banking 
     Commission''; and
       (B) in paragraph (2), by striking ``appropriate Federal 
     banking agency (as defined in section 3 of the Federal 
     Deposit Insurance Corporation Act)'' and inserting ``Federal 
     Banking Commission''.
       (c) Amendment to Section 308.--Subsection 308(a) of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 1463 note) is amended by striking 
     ``Director of the Office of Supervision and the Chairperson 
     of the Board of Directors of the Federal Deposit Insurance 
     Corporation'' and inserting ``Chairperson of the Federal 
     Banking Commission''.
       (d) Amendments to Section 402.--Section 402 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 1437 note) is amended--
       (1) in subsection (a), by striking ``Director of the Office 
     of Thrift Supervision'' and inserting ``Federal Banking 
     Commission'';
       (2) in subsection (b), by striking ``Director of the Office 
     of Thrift Supervision'' and inserting ``Chairperson of the 
     Federal Banking Commission''; and
       (3) in subsection (e)--
       (A) in paragraph (1), by striking ``the Office of Thrift 
     Supervision'' and inserting ``Federal Banking Commission'';
       (B) in paragraph (2), by striking ``Director of the Office 
     of Thrift Supervision'' each place it appears and inserting 
     ``Federal Banking Commission'';
       (C) in paragraph (3), by striking ``Director of the Office 
     of Thrift Supervision'' and inserting ``Federal Banking 
     Commission''; and
       (D) in paragraph (4), by striking ``Director of the Office 
     of Thrift Supervision'' and inserting ``Federal Banking 
     Commission''.
       (e) Amendment to Section 918.--Subsection 918(b) of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 1833 note) is amended to read as follows:
       ``(b) Agencies Required To Submit Reports.--The agencies 
     referred to in subsection (a) are as follows:
       (1) The Federal Banking Commission.
       (2) The Federal Housing Finance Board.
       (3) The National Credit Union Administration.
       (4) The Attorney General of the United States.''.
       (f) Amendments to Section 1002.--Section 1002 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 1811 note) is amended--
       (1) in subsection (a), by striking ``Board of Governors of 
     the Federal Reserve System'' and inserting ``Federal Banking 
     Commission''; and
       (2) in subsection (b)--
       (A) in paragraph (1), by striking ``Board of Governors of 
     the Federal Reserve System'' and inserting ``Federal Banking 
     Commission''; and
       (B) in paragraph (3), by striking ``Board of Governors of 
     the Federal Reserve System'' and inserting ``Federal Banking 
     Commission''.
       (g) Amendment to Section 1103.--Section 1103 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3332) is amended--
       (1) in the heading, by striking ``APPRAISAL SUBCOMMITTEE'' 
     and inserting ``APPRAISAL COMMITTEE'';
       (2) by striking ``Appraisal Subcommittee'' each place it 
     appears and inserting ``Appraisal Committee''; and
       (3) in the introductory text of subsection (a)(2), by 
     striking ``Federal financial institutions regulatory 
     agencies'' and inserting ``Federal Banking Commission, the 
     National Credit Union Administration, the Federal Deposit 
     Insurance Corporation,''.
       (h) Amendment to Section 1105.--Section 1105 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3334) is amended--
       (1) by striking ``Appraisal Subcommittee'' and inserting 
     ``Appraisal Committee''; and
       (2) by striking ``Council'' and inserting ``Federal Banking 
     Commission.''
       (i) Amendment to Section 1106.--Section 1106 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3335) is amended--
       (1) in the heading, by striking ``APPRAISAL SUBCOMMITTEE'' 
     and inserting ``APPRAISAL COMMITTEE''; and
       (2) by striking ``Appraisal Subcommittee'' each place it 
     appears and inserting ``Appraisal Committee''.
       (j) Amendment to Section 1108.--Section 1108 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3337) is amended--
       (1) by striking ``Appraisal Subcommittee'' each place it 
     appears and inserting ``Appraisal Committee''; and
       (2) in subsection (a), by striking ``subcommittee'' and 
     inserting ``committee''.
       (k) Amendment to Section 1109.--Section 1109 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3338) is amended--
       (1) by striking ``Appraisal Subcommittee'' each place it 
     appears and inserting ``Appraisal Committee''; and
       (2) in subsection (a), by striking ``Council'' and 
     inserting ``Federal Banking Commission.''
       (l) Amendment to Section 1110.--Section 1110 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3339) is amended--
       (1) in the heading, by striking ``the federal financial 
     institutions regulatory agencies'' and inserting ``fbc, ncua, 
     fdic, and rtc''; and
       (2) by striking ``Each Federal financial institutions 
     regulatory agency'' and inserting ``The Federal Banking 
     Commission, the National Credit Union Administration, the 
     Federal Deposit Insurance Corporation,''.
       (m) Amendment to Section 1112.--Section 1112 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3341) is amended--
       (1) in the heading, by striking ``the federal financial 
     institutions regulatory agencies'' and inserting ``fbc, ncua, 
     fdic; AND RTC''; and
       (2) by striking ``Each Federal financial institutions 
     regulatory agency'' and inserting ``The Federal Banking 
     Commission, the National Credit Union Administration, the 
     Federal Deposit Insurance Corporation,''.
       (n) Amendment to Section 1116.--Section 1118 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3345) is amended--
       (1) in the first subsection (e)--
       (A) in the heading, by striking ``Appraisal Subcommittee'' 
     and inserting ``Appraisal Committee'';
       (B) by striking ``Appraisal Subcommittee'' and inserting 
     ``Appraisal Committee''; and
       (C) by striking ``Subcommittee'' and inserting 
     ``Committee''; and
       (2) by striking the second subsection (e).
       (o) Amendment to Section 1118.--Section 1118 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3347) is amended--
       (1) by striking ``Appraisal Subcommittee'' each place it 
     appears and inserting ``Appraisal Committee'';
       (2) in subsection (b), by striking ``The Federal financial 
     institutions regulatory agencies'' and inserting ``The 
     Federal Banking Commission, the National Credit Union 
     Administration, the Federal Deposit Insurance Corporation,''; 
     and
       (3) in subsection (c)(3), by striking ``subcommittee'' and 
     inserting ``committee''.
       (p) Amendment to Section 1119.--Section 1119 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3348) is amended--
       (1) by striking ``Council'' and inserting ``Federal Banking 
     Commission'';
       (2) by striking ``Appraisal Subcommittee'' each place it 
     appears and inserting ``Appraisal Committee''; and
       (3) in subsection (c), by striking ``subcommittee'' and 
     inserting ``committee''.
       (q) Amendment to Section 1120.--Subsection 1120(a) of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3349(a)) is amended by striking 
     ``Appraisal Subcommittee'' and inserting ``Appraisal 
     Committee''.
       (r) Amendment to Section 1121.--Subsection 1121 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3350) is amended--
       (1) by amending paragraph (2) to read as follows:
       ``(2) Appraisal committee; committee.--The terms `Appraisal 
     Committee' and `committee' mean the Appraisal Committee 
     established by Section 1011 of the Federal Financial 
     Institutions Examination Council Act of 1978.'';
       (2) by striking paragraph (3);
       (3) in paragraph (4)(A), by striking ``a Federal financial 
     institutions regulatory agency'' and inserting ``the Federal 
     Banking Commission, the National Credit Union Administration, 
     the Federal Deposit Insurance Corporation,'';
       (4) by amending paragraph (6) to read as follows:
       ``(6) Federal financial institutions regulatory agencies.--
     The term `Federal financial institutions regulatory agencies' 
     means the Federal Banking Commission and the National Credit 
     Union Administration.'';
       (5) by amending paragraph (8) to read as follows:
       ``(8) Chairperson.--The term `Chairperson' means the 
     Chairperson of the Appraisal Committee selected by the 
     members of the committee.''; and
       (6) by redesignating paragraphs (4) through (10) as 
     paragraphs (3) through (9), respectively.
       (s) Amendment to Section 1122.--Subsection 1122 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 3351) is amended--
       (1) by striking subsection (b);
       (2) in subsection (c), by striking ``the Federal financial 
     institutions regulatory agencies'' and inserting ``the 
     Federal Banking Commission, the National Credit Union 
     Administration, the Federal Deposit Insurance Corporation,'';
       (3) in subsection (e), by striking ``Appraisal 
     Subcommittee'' each place it appears and inserting 
     ``Appraisal Committee''; and
       (4) by redesignating subsections (c) through (e) as 
     subsections (b) through (d), respectively.
       (t) Amendments to Section 1204.--Section 1204 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 1811 note) is amended by--
       (1) in subsection (a), by striking ``appropriate Federal 
     banking agencies'' and inserting ``Federal Banking 
     Commission'';
       (2) in subsection (c)--
       (A) by striking paragraph (1); and
       (B) by redesignating paragraphs (2), (3), (4), and (5) as 
     paragraphs (1), (2), (3), and (4), respectively;
       (u) Amendments to Section 1205.--Subsection 1205(b) of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 1818 note) is amended--
       (1) in paragraph (1)--
       (A) in subparagraph (B), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Chairperson of 
     the Federal Banking Commission, or the Chairperson's 
     designee'';
       (B) by striking subparagraph (D); and
       (C) by redesignating subparagraphs (E) and (F) as 
     paragraphs (D) and (E), respectively;
       (2) in paragraph (2), by striking ``paragraph (1)(F)'' and 
     inserting ``paragraph (1)(E)''; and
       (3) in paragraph (5), by striking ``through (E)'' and 
     inserting ``through (D)''.
       (v) Amendments to Section 1206.--Section 1206 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 1833b) is amended--
       (1) by striking ``the Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission'';
       (2) by inserting ``and'' after ``Resolution Trust 
     Corporation,'' and before ``the Farm Credit Administration''; 
     and
       (3) by striking ``, and the Office of Thrift Supervision''.
       (w) Amendments to Section 1216.--Section 1216 of the 
     Financial Institutions Reform, Recovery, and Enforcement Act 
     of 1989 (12 U.S.C. 1833e) is amended--
       (1) in subsection (a)--
       (A) in paragraph (1), striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission'';
       (B) by striking paragraph (2); and
       (C) by redesignating paragraphs (3), (4), (5), and (6) as 
     paragraphs (2), (3), (4), and (5), respectively;
       (2) in subsection (c), by striking ``Comptroller of the 
     Currency, the Director of the Office of Thrift Supervision'' 
     and inserting ``Federal Banking Commission''; and
       (3) in subsection (d)--
       (A) in paragraph (2), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission'';
       (B) by striking paragraph (3); and
       (C) by redesignating paragraphs (4), (5), (6), (7), and (8) 
     as paragraphs (3), (4), (5), (6), and (7), respectively.

     SEC. 637. AMENDMENTS TO THE HOME MORTGAGE DISCLOSURE ACT OF 
                   1975.

       (a) Amendments to Section 303.--Section 303 of the Home 
     Mortgage Disclosure Act of 1975 (12 U.S.C. 2802) is amended--
       (1) in subsection (2)(A), by striking ``Board'' and 
     inserting ``Commission''; and
       (2) by amending subsection (5) to read as follows:
       ``(5) the term `Commission' means the Federal Banking 
     Commission; and''.
       (b) Amendments to Section 304.--Section 304 of the Home 
     Mortgage Disclosure Act of 1975 (12 U.S.C. 2803) is amended--
       (1) in subsection (a)(1), by striking ``Board'' and 
     inserting ``Commission'';
       (2) in subsection (e), by striking ``Board'' and inserting 
     ``Commission'';
       (3) in subsection (f), by striking ``Federal Financial 
     Institutions Examination Council'' and inserting 
     ``Commission''; and
       (4) in subsection (h), by striking the second sentence and 
     inserting the following:
     ``Notwithstanding the requirement of subsection (a)(2)(A) of 
     this section for disclosure by census tract, the Commission, 
     in cooperation with other appropriate regulators, including--
       ``(1) the National Credit Union Administration Board for 
     credit unions; and
       ``(2) the Secretary of Housing and Urban Development for 
     other lending institutions not regulated by the Commission or 
     the National Credit Union Administration Board,

     shall develop regulations prescribing the format for such 
     disclosures, the method for submission of the data to the 
     appropriate regulatory agency, and the procedures for 
     disclosing the information to the public.'';
       (5) in subsection (j), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (6) in subsection (k), by striking ``Board'' each place it 
     appears and inserting ``Commission'';
       (7) in subsection (l)(2)(A), by striking ``Board'' and 
     inserting ``Commission'';
       (c) Amendments to Section 305.--Section 305 of the Home 
     Mortgage Disclosure Act of 1975 (12 U.S.C. 2804) is amended--
       (1) in subsection (a), by striking ``Board'' each place it 
     appears and inserting ``Commission''; and
       (2) in subsection (b)--
       (A) by amending paragraph (1) to read as follows:
       ``(1) section 8 of the Federal Deposit Insurance Act by the 
     Commission with respect to national banks, member banks of 
     the Federal Reserve System (other than national banks), 
     branches and agencies of foreign banks, commercial lending 
     companies owned or controlled by foreign banks, organizations 
     operating under section 25 or 25A of the Federal Reserve Act, 
     banks insured by the Federal Deposit Insurance Corporation 
     (other than members of the Federal Reserve System), mutual 
     savings banks as defined in section 3(f) of the Federal 
     Deposit Insurance Act, savings associations with deposits 
     insured by the Federal Deposit Insurance Corporation, and any 
     other depository institution not referred to in paragraph (2) 
     of this subsection;'';
       (B) by striking paragraphs (2); and
       (C) by redesignating paragraphs (3) and (4) as paragraphs 
     (2) and (3) respectively.
       (d) Amendments to Section 306.--Section 306 of the Home 
     Mortgage Disclosure Act of 1975 (12 U.S.C. 2805) is amended--
       (1) in subsection (a), by striking ``Board'' each place it 
     appears and inserting ``Commission''; and
       (2) in subsection (b)--
       (A) in the first sentence, by striking ``Board'' and 
     inserting ``Commission''; and
       (B) by amending the second sentence to read as follows: 
     ``Notwithstanding any other provision of this subsection, 
     compliance with the requirements imposed under this 
     subsection shall be enforced by the Commission under section 
     8 of the Federal Deposit Insurance Act in the case of all 
     national banks and those savings associations with deposits 
     insured by the Federal Deposit Insurance Corporation.''.
       (f) Amendments to Section 307.--Section 307 of the Home 
     Mortgage Disclosure Act of 1975 (12 U.S.C. 2806) is amended--
       (1) in subsection (a)--
       (A) by amending paragraph (1) to read as follows:
       ``(1) The Commission, with the assistance of the Secretary, 
     the Director of the Bureau of the Census, and such other 
     persons as the Commission deems appropriate, shall develop, 
     or assist in the improvement of, methods of matching 
     addresses and census tracts to facilitate compliance by 
     depository institutions in as economical a manner as possible 
     with the requirements of this title.''; and
       (B) in paragraph (3), by striking ``Director of the Office 
     of Thrift Supervision'' and inserting ``Commission''; and
       (2) in subsection (b), by striking ``Director of the Office 
     of Thrift Supervision'' each place it appears and inserting 
     ``Commission''.
       (g) Amendment to Section 308.--Section 308 of the Home 
     Mortgage Disclosure Act of 1975 (12 U.S.C. 2807) is amended 
     by striking ``Board'' and inserting ``Commission''.
       (h) Amendment to Section  309.--Section 309 of the Home 
     Mortgage Disclosure Act of 1975 (12 U.S.C. 2808) is amended 
     in the second sentence by striking ``Board'' and inserting 
     ``Commission''.
       (i) Amendment to Section 310.--Subsection 310 of the Home 
     Mortgage Disclosure Act of 1975 (12 U.S.C. 2809) is amended--
       (1) in subsection (a)--
       (A) in the first sentence, by striking ``Federal Financial 
     Institutions Examination Council'' and inserting 
     ``Commission''; and
       (B) in the second sentence, by striking ``Council'' and 
     inserting ``Commission'';
       (2) by striking subsection (b); and
       (3) by redesignating subsection (c) as subsection (b).

     SEC. 638. AMENDMENTS TO THE HOME OWNERS' LOAN ACT.

       (a) Amendment to Section 1.--Section 1 of the Home Owners' 
     Loan Act (12 U.S.C. 1461) is amended by striking ``Director 
     of the Office of Thrift Supervision'' in the Table of 
     Contents and inserting ``Federal Banking Commission.''.
       (b) Amendments to Section 2.--Section 2 of the Home Owners' 
     Loan Act (12 U.S.C. 1462) is amended--
       (1) by amending paragraph (1) to read as follows:
       ``(1) Chairperson.--The term `Chairperson' means the 
     Chairperson of the Federal Banking Commission.'';
       (2) by amending paragraph (3) to read as follows:
       ``(3) Commission.--The term `Commission' means the Federal 
     Banking Commission.'';
       (3) by striking paragraph (7); and
       (4) by redesignating paragraphs (8) and (9) as paragraphs 
     (7) and (8), respectively.
       (c) Amendments to Section 3.--Section 3 of the Home Owners' 
     Loan Act (12 U.S.C. 1462a) is amended--
       (1) in the heading, by striking ``director of the office of 
     thrift supervision'' and inserting federal banking 
     commission'';
       (2) in subsection (e)--
       (A) in the heading, by striking ``Director'' and inserting 
     ``Commission'';
       (B) in the introductory text, by striking ``Director'' and 
     inserting ``Commission'';
       (C) in paragraph (1), by inserting after ``Act of 1989'' 
     the following: ``or were vested in the Office of Thrift 
     Supervision or the Director of the Office of Thrift 
     Supervision on the day before the `designated transfer date' 
     as defined in section 2(4) of the Regulatory Consolidation 
     Act of 1994;``; and
       (D) in paragraph (2)--
       (i) in subparagraph (A), by striking ``such Act; or'' and 
     inserting ``the Financial Institutions Reform, Recovery, and 
     Enforcement Act of 1989; or''; and
       (ii) in subparagraph (B), by striking ``such Act.'' and 
     inserting ``the Financial Institutions Reform, Recovery, and 
     Enforcement Act of 1989 or the Regulatory Consolidation Act 
     of 1993.'';
       (3) in subsection (f)--
       (A) by striking ``Director'' each place it appears and 
     inserting ``Commission''; and
       (B) by striking ``Office'' each place it appears and 
     inserting ``Commission'';
       (4) in subsection (g)--
       (A) by striking ``Director'' each place it appears and 
     inserting ``Commission'';
       (B) by striking ``Office'' each place it appears and 
     inserting ``Commission'';
       (C) in paragraph (1)--
       (i) by striking ``Office of Thrift Supervision'' and 
     inserting ``Commission''; and
       (ii) by striking ``notwithstanding section 301(f) of title 
     31, United States Code'';
       (D) in paragraph (3)--
       (i) by striking ``provided by any Federal banking agency'' 
     and inserting ``provided by the Corporation or the Board of 
     Governors of the Federal Reserve System''; and
       (ii) by striking ``the Federal banking agencies'' and 
     inserting ``the Corporation and the Board of Governors of the 
     Federal Reserve System''; and
       (E) by amending paragraph (4) to read as follows:
       ``(4) Delegation of Authority.--
       ``(A) In General.--The Commission may delegate to any 
     employee, representative, or agent any power of the 
     Commission.''
       ``(B) Limitations.--
       ``(i) Supervision of savings associations not delegable.--
     Notwithstanding subparagraph (A), the Commission shall not, 
     directly or indirectly, after October 10, 1989, delegate to 
     any Federal home loan bank or to any officer, director, or 
     employee of a Federal home loan bank, any power involving 
     examining, supervising, taking enforcement action with 
     respect to, or otherwise regulating any savings association, 
     savings and loan holding company, or other person subject to 
     regulation by the Commission.
       ``(ii) Membership on fdic's board of directors not 
     delegable.--The Chairperson shall not delegate the 
     Chairperson's authority to serve as a member of the 
     Corporation's Board of Directors.''.
       (5) in subsection (h)--
       (A) by striking ``Director'' and inserting 
     ``commissioners''; and
       (B) by striking ``Office'' and inserting ``Commission'';
       (6) in subsection (i)--
       (A) by striking ``Director'' and inserting ``Commission''; 
     and
       (B) by striking ``Office of Thrift Supervision'' and 
     inserting ``Commission'';
       (7) by striking subsections (a), (b), (c), and (d); and
       (8) by redesignating subsections (e) through (i) as 
     subsections (a) through (e) respectively.
       (d) Amendments to Section 4.--Section 4 of the Home Owners' 
     Loan Act (12 U.S.C. 1463) is amended--
       (1) in subsection (a)--
       (A) by striking ``Director'' each place it appears and 
     inserting ``Commission''; and
       (B) in paragraph (2), by striking ``or the Office'';
       (2) in subsection (b)--
       (A) by striking ``Director'' each place it appears and 
     inserting ``Commission''; and
       (B) in paragraph (2)(A), by striking ``Federal banking 
     agencies'' and inserting ``Corporation and the Board of 
     Governors of the Federal Reserve System'';
       (3) by striking subsection (c);
       (4) in subsection (e)(5), by striking ``Director'' and 
     inserting ``Commission'';
       (5) in subsection (f), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (6) in subsection (h), by striking ``Director'' each place 
     it appears and inserting ``Commission''; and
       (7) by redesignating subsections (d) through (h) as 
     subsections (c) through (g), respectively.
       (e) Amendments to Section 5.--Section 5 of the Home Owners' 
     Loan Act (12 U.S.C. 1464) is amended--
       (1) in subsection (a), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (3) in subsection (c), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (4) in subsection (d)--
       (A) by striking ``Director'' each place it appears and 
     inserting ``Commission''; and
       (B) in paragraph (2)(A), by striking ``Director of the 
     Office of Thrift Supervision'' and inserting ``Commission'';
       (5) in subsection (e), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (6) in subsection (f), by striking ``Director'' and 
     inserting ``Commission'';
       (7) in subsection (i), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (8) in subsection (m), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (9) in subsection (n), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (10) in subsection (o), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (11) in subsection (p), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (12) in subsection (q), by striking ``Director'' and 
     inserting ``Commission'';
       (13) in subsection (r), by striking ``Director'' and 
     inserting ``Commission'';
       (14) in subsection (s), by striking ``Director'' each place 
     it appears and inserting ``Commission''; and
       (15) in subsection (t)--
       (A) by striking ``Director'' each place it appears and 
     inserting ``Commission'';
       (B) by striking paragraph (1)(D); and
       (C) in paragraph (4)(C)(ii), by striking ``Corporation'' 
     and inserting ``Commission''.
       (f) Amendments to Section 8.--Section 8 of the Home Owners' 
     Loan Act (12 U.S.C. 1466a) is amended--
       (1) in subsection (a), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (2) in subsection (c), by striking ``Director'' and 
     inserting ``Commission''; and
       (3) in subsection (d), by striking ``Director'' each place 
     it appears and inserting ``Commission''.
       (g) Amendments to Section 9.--Section 9 of the Home Owners' 
     Loan Act (12 U.S.C. 1467) is amended--
       (1) in subsection (a), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (3) in subsection (c), by striking ``Director'' and 
     inserting ``Commission'';
       (4) in subsection (d), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (5) in subsection (e), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (6) in subsection (f), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (7) in subsection (g), by striking ``Director'' and 
     inserting ``Commission'';
       (8) in subsection (h), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (9) in subsection (i), by striking ``Director'' and 
     inserting ``Commission'';
       (10) in subsection (j), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (11) subsection (k) is amended to read as follows:
       ``(k) Fees for Examinations and Supervisory Activities.--
     The Commission may assess fees to fund the direct and 
     indirect expenses of the Commission as the Commission deems 
     necessary or appropriate. The fees may be imposed more 
     frequently than annually at the discretion of the 
     Commission.'';
       (12) in subsection (l), by striking ``Director'' and 
     inserting ``Commission''; and
       (13) in subsection (m)--
       (A) by striking ``Director'' each place it appears and 
     inserting ``Commission''; and
       (B) by striking ``Office'' each place it appears and 
     inserting ``Commission'';
       (h) Amendments to Section 10.--Section 10 of the Home 
     Owners' Loan Act (12 U.S.C. 1467a) is amended--
       (1) in subsection (a), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (3) in subsection (c)--
       (A) in paragraph (2)(F)(i), by striking ``Board of 
     Governors of the Federal Reserve System'' and inserting 
     ``Federal Banking Commission''; and
       (B) by striking ``Director'' or each place it appears and 
     inserting ``Commission'';
       (4) in subsection (e), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (5) in subsection (f), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (6) in subsection (g)--
       (A) by striking ``Director'' each place it appears and 
     inserting ``Commission''; and
       (B) in paragraph (3)(A), by striking in the first sentence 
     ``of this section,'' after ``under paragraph (5)'' and 
     inserting ``of this subsection,'';
       (7) in subsection (h), by striking ``Director'' and 
     inserting ``Commission'';
       (8) in subsection (i)--
       (A) by striking ``Director'' and inserting ``Commission''; 
     and
       (B) by redesignating paragraph (5) as paragraph (4);
       (9) in subsection (j), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (10) in subsection (m)--
       (A) by striking ``Director'' each place it appears and 
     inserting ``Commission''; and
       (B) in paragraph (7)(A)(ii), by inserting ``the'' before 
     ``period'' in the last sentence.
       (11) in subsection (o), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (12) in subsection (p), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (13) in subsection (q), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (14) in subsection (r), by striking ``Director'' each place 
     it appears and inserting ``Commission''; and
       (15) by redesignating subsection (t) as subsection (s).
       (i) Amendment to Section 11.--Section 11 of the Home 
     Owners' Loan Act (12 U.S.C. 1468) is amended--
       (1) in subsection (a), by striking ``Director'' each place 
     it appears and inserting ``Commission'';
       (2) in subsection (b), by striking ``Director'' each place 
     it appears and inserting ``Commission''; and
       (3) in subsection (c), by striking ``Director'' and 
     inserting ``Commission''.
       (j) Amendment to Section 12.--Section 12 of the Home 
     Owners' Loan Act (12 U.S.C. 1468a) is amended by striking 
     ``Director'' and inserting ``Commission''.
       (k) Amendment to Section 13.--Section 13 of the Home 
     Owners' Loan Act (12 U.S.C. 1468b) is amended by striking 
     ``Director'' and inserting ``Commission''.

     SEC. 639. AMENDMENTS TO THE HOUSING ACT OF 1948.

       Section 502(c) of the Housing Act of 1948 (12 U.S.C. 
     1701c(c)) is amended in the introductory text by striking 
     ``Director of the Office of Thrift Supervision'' and 
     inserting ``Federal Banking Commission''.

     SEC. 640. AMENDMENTS TO THE HOUSING AND COMMUNITY DEVELOPMENT 
                   ACT OF 1992.

       (a) Amendments to Section 543.--Section 543 of the Housing 
     and Community Development Act of 1992 (12 U.S.C. 1707 note) 
     is amended--
       (1) in subsection (c)(1)--
       (A) by amending subparagraph (C) to read as follows:
       ``(C) the Chairperson of the Federal Banking Commission''; 
     and
       (B) by striking subparagraphs (D) through (F); and
       (C) by redesignating subparagraphs (G) and (H) as 
     subparagraphs (D) and (E), respectively; and
       (2) in subsection (f)--
       (A) in paragraph (2)--
       (i) by striking ``Comptroller of the Currency, the Office 
     of Thrift Supervision, the Board of Governors of the Federal 
     Reserve System, the Federal Deposit Insurance Corporation'' 
     and inserting ``Federal Banking Commission''; and
       (ii) in subparagraph (D), by striking ``Office of Thrift 
     Supervision, the Board of Governors of the Federal Reserve, 
     the Office of the Comptroller of the Currency, the Federal 
     Deposit Insurance Corporation'' and inserting ``Federal 
     Banking Commission''; and
       (B) in paragraph (3)--
       (i) by striking ``the Office of Thrift Supervision, the 
     Board of Governors of the Federal Reserve, the Office of the 
     Comptroller of the Currency, and the Federal Deposit 
     Insurance Corporation'' and inserting ``and the Federal 
     Banking Commission''; and
       (ii) in subparagraph (D), by striking ``Office of Thrift 
     Supervision, the Board of Governors of the Federal Reserve, 
     the Office of the Comptroller of the Currency, the Federal 
     Deposit Insurance Corporation'' and inserting ``Federal 
     Banking Commission''.
       (b) Amendments to Section 853.--Section 853(b)(3)(A) of the 
     Housing and Community Development Act of 1992 (42 U.S.C. 5305 
     note) is amended--
       (1) by amending clause (i) to read as follows:
       ``(i) the Federal Banking Commission with respect to 
     national banks, State-chartered banks which are members of 
     the Federal Reserve System, bank holding companies, State-
     chartered banks and savings banks which are not members of 
     the Federal Reserve System and the deposits of which are 
     insured by the Federal Deposit Insurance Corporation, insured 
     savings associations and savings and loan holding companies 
     that are not bank holding companies;''
       (2) by striking clauses (ii), (iii) and (v); and
       (3) by redesignating clause (iv) as clause (ii).
       (c) Amendment to Section 1315.--Section 1315(b) of the 
     Housing and Community Development Act of 1992 (12 U.S.C. 
     4515(b)) is amended by striking ``the Office of the 
     Comptroller of the Currency, the Board of Governors of the 
     Federal Reserve System, the Federal Deposit Insurance 
     Corporation, and the Director of the Office of Thrift 
     Supervision'' and inserting ``the Federal Banking Commission, 
     the Board of Governors of the Federal Reserve System, or the 
     Federal Deposit Insurance Corporation''.
       (d) Amendment to Section 1317.--Section 1317(c) of the 
     Housing and Community Development Act of 1992 (12 U.S.C. 
     4517(c)) is amended by striking ``the Comptroller of the 
     Currency,'' the Board of Governors of the Federal Reserve 
     System, the Federal Deposit Insurance Corporation, or the 
     Director of the Office of Thrift Supervision'' and inserting 
     ``the Federal Banking Commission, the Board of Governors of 
     the Federal Reserve System, or the Federal Deposit Insurance 
     Corporation''.
       (e) Amendment to Section 1542.--Section 1542 of the Housing 
     and Community Development Act of 1992 (12 U.S.C. 1831m-1)is 
     amended--
       (1) by striking ``appropriate Federal banking agency'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (2) in subsection (a)(2)--
       (A) in subparagraph (A)--
       (i) in clause (i), by striking ``an appropriate Federal 
     banking agency'' and inserting ``the Federal Banking 
     Commission''; and
       (ii) in clause (ii), by striking ``Each appropriate Federal 
     banking agency'' and inserting ``The Federal Banking 
     Commission''; and
       (B) in subparagraph (B)(ii), by striking ``the Federal 
     banking agency'' each place it appears and inserting ``the 
     Federal Banking Commission'';
       (3) in subsection (b)(1), by striking ``each appropriate 
     Federal banking agency'' and inserting ``the Federal Banking 
     Commission'';
       (4) by striking subsection (d); and
       (5) by redesignating subsection (e) as subsection (d).

     SEC. 641. AMENDMENTS TO THE HOUSING AND URBAN-RURAL RECOVERY 
                   ACT OF 1983.

       Section 469 of the Housing and Urban-Rural Recovery Act of 
     1983 (12 U.S.C. 1701p-1) is amended in the first sentence--
       (a) by striking ``Federal Home Loan Bank Board;'' and
       (b) by striking ``the Federal Deposit Insurance 
     Corporation, the Board of Governors of the Federal Reserve 
     System, and the Comptroller of the Currency'' and inserting 
     ``and the Federal Banking Commission''.

     SEC. 642. AMENDMENTS TO THE INTERNATIONAL BANKING ACT OF 
                   1978.

       (a) Amendment to Section 1.--Subsection 1(b)(4) of the 
     International Banking Act of 1978 (12 U.S.C. 3101) is amended 
     to read as follows:
       ``(4) `Commission' means the Federal Banking Commission;'';
       (b) Amendments to Section 4--Section 4 of the International 
     Banking Act of 1978 (12 U.S.C. 3102) is amended--
       (1) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission'';
       (2) in subsection (a)--
       (A) in paragraph (1), by striking ``(1) Initial branch or 
     federal agency.--''; and
       (B) by striking paragraph (2);
       (3) in subsection (b), by striking the last sentence;
       (4) in subsection (c), by striking ``In'' and inserting 
     ``In addition to the standards for approval listed in section 
     7(d), in'';
       (5) in subsection (g)--
       (A) in paragraph (1), by striking ``if it is a national 
     bank and by the Board of Governors of the Federal Reserve 
     System if it is a State Bank''; and
       (B) in paragraph (2), by striking ``he'' and inserting 
     ``it'';
       (6) in subsection (h)--
       (A) in paragraph (1), by striking ``(1) Approval of agency 
     required''; and
       (B) by striking paragraph (2);
       (7) in the 3rd sentence of subsection (i)--
       (A) by striking ``his'' and inserting ``its''; and
       (B) by striking ``he'' and inserting ``it''; and
       (8) in subsection (j)(1), by striking ``he'' and inserting 
     ``it''.
       (c) Amendment to Section 5.--Section 5 of the International 
     Banking Act of 1978 (12 U.S.C. 3103) is amended by striking 
     ``Board'' each place it appears and inserting ``Commission''.
       (d) Amendment to Section 6.--Section 6 of the International 
     Banking Act of 1978 (12 U.S.C. 3104) is amended by striking 
     ``Comptroller'' each place it appears and inserting 
     ``Commission''.
       (e) Amendments to Section 7.--Section 7 of the 
     International Banking Act of 1978 (12 U.S.C. 3105) is 
     amended--
       (1) in the section heading, by inserting ``and federal 
     banking commission'' after ``system'';
       (2) in subsection (c) through (j), by striking ``Board'' 
     each place it appears and inserting ``Commission'';
       (3) in subsection (c)(1)(B)(i), by striking ``Comptroller 
     of the Currency, the Federal Deposit Insurance Corporation, 
     and'';
       (4) in subsection (e)--
       (A) in paragraph (5), by striking ``transmit to the 
     Comptroller of the Currency a recommendation that the license 
     of any Federal branch or Federal agency of a foreign bank be 
     terminated'' and inserting ``terminate the license of any 
     Federal branch or Federal agency of a foreign bank''; and
       (B) by amending paragraph (6)(A) to read as follows:
       ``(A) In general.--In the case of contumacy of any office 
     or subsidiary of the foreign bank against which the 
     Commission has issued an order under paragraph (1) or section 
     4(i) or a refusal by such office or subsidiary to comply with 
     such order, the Commission may invoke the aid of the district 
     court of the United States within the jurisdiction of which 
     the office or subsidiary is located.''; and
       (5) in subsection (f)(1)(C), by striking ``Comptroller of 
     the Currency'' and inserting ``Commission''.
       (f) Amendment to Section 8.--Section 8 of the International 
     Banking Act of 1978 (12 U.S.C. 3106) is amended by striking 
     ``Board'' each place it appears and inserting ``Commission''.
       (g) Amendments to Section 9.--Section 9 of the 
     International Banking Act of 1978 is amended--
       (1) in subsection (a) (12 U.S.C. 601 note), by striking ``, 
     the Board, the Comptroller, and the Federal Deposit Insurance 
     Corporation'' and inserting ``and the Commission''; and
       (2) in subsection (b)(2) (12 U.S.C. 3106a(2)), by striking 
     ``Comptroller'' and inserting ``Commission''.
       (h) Amendment to Section 10.--Section 10 of the 
     International Banking Act of 1978 (12 U.S.C. 3107) is amended 
     by striking ``Board'' each place it appears and inserting 
     ``Commission''.
       (i) Amendments to Section 13.--Section 13 of the 
     International Banking Act of 1978 (12 U.S.C. 3108) is 
     amended--
       (1) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission'';
       (2) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Commission'';
       (3) in subsection (b)(1), by striking ``by any appropriate 
     Federal banking agency as defined in that Act''; and
       (4) in subsection (c)--
       (A) by striking ``as to which the Board is an appropriate 
     Federal banking agency'';
       (B) by striking ``in the Board'' and inserting ``in the 
     Commission''; and
       (C) by striking the last sentence;
       (j) Amendment to Section 14.--Section 14 of the 
     International Banking Act of 1978 (12 U.S.C. 36 note) is 
     amended by striking ``, the Board, the Comptroller, and the 
     Federal Deposit Insurance Corporation,'' and inserting ``and 
     the Commission''.
        (k) Amendments to Section 15.--Section 15 of the 
     International Banking Act of 1978 (12 U.S.C. 3109) is 
     amended--
       (1) by striking ``Board, Comptroller of the Currency, 
     Federal Deposit Insurance Corporation, and Director of the 
     Office of Thrift Supervision'' each place it appears and 
     inserting ``Commission''; and
       (2) in subsection (a), by striking ``Board, Comptroller, 
     Corporation, or Director'' and inserting ``Commission''.
       (l) Amendments to Section 16.--Section 16 of the 
     International Banking Act of 1978 (12 U.S.C. 3110) is 
     amended--
       (1) by striking ``Board or the Comptroller of the 
     Currency'' each place it appears and inserting 
     ``Commission'';
       (2) in subsection (a)(6), by striking ``Board and the 
     Comptroller of the Currency shall each'' and inserting 
     ``Commission shall''; and
       (3) in subsection (c)(3), by striking ``Board's or 
     Comptroller's'' and inserting ``Commission's''.

      SEC. 643. AMENDMENTS TO THE INTERNATIONAL LENDING 
                   SUPERVISION ACT OF 1983.

       (a) Amendment to Section 902.--Subsection 902(b) of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3901(b)) is amended by striking ``Federal banking agencies'' 
     and inserting ``Federal Banking Commission''.
       (b) Amendment to Section 903.--Section 903 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3902) is amended to read as follows:
       ``Sec. 903. For purposes of this title, the term `banking 
     institution' means--
       ``(a)(1) an insured bank as defined in section 3(h) of the 
     Federal Deposit Insurance Act or any subsidiary of an insured 
     bank;
       ``(2) an Edge Act corporation organized under section 25A 
     of the Federal Reserve Act;
       ``(3) an Agreement Corporation operating under section 25 
     of the Federal Reserve Act; and
       ``(b) to the extent determined by the Federal Banking 
     Commission, any agency or branch of a foreign bank, and any 
     commercial lending company owned or controlled by one or more 
     foreign banks or companies that control a foreign bank as 
     those terms are defined in the International Banking Act of 
     1978. The term `banking institution' shall not include a 
     foreign bank.''.
       (c) Amendments to Section 904.--Section 904 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3903) is amended--
       (1) in subsection (a), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Federal Banking 
     Commission''; and
       (2) in subsection (b), by striking ``Each such agency'' and 
     inserting ``The Commission''.
       (d) Amendments to Section 905.--Section 905 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3904) is amended--
       (1) in subsection (a)--
       (A) by striking ``Each appropriate Federal banking agency'' 
     and inserting ``The Federal Banking Commission''; and
       (B) by striking ``such appropriate Federal banking agency'' 
     and inserting ``the Federal Banking Commission'';
       (2) in subsection (b), by striking ``The appropriate 
     Federal banking agencies'' each place it appears and 
     inserting ``The Federal Banking Commission''; and
       (3) in subsection (c), by striking ``The appropriate 
     Federal banking agencies'' each place it appears and 
     inserting ``The Federal Banking Commission''.
       (e) Amendments to Section 905A.--Section 905A of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3904a) is amended--
       (1) by striking ``each appropriate Federal banking agency'' 
     each place it appears and inserting ``the Federal Banking 
     Commission'';
       (2) in subsection (a), by striking ``Each agency'' and 
     inserting ``The Commission'';
       (3) in subsection (b), by striking ``appropriate Federal 
     banking agency'' and inserting ``Federal Banking 
     Commission''; and
       (4) in subsection (c)--
       (A) by striking ``each appropriate Federal banking agency'' 
     each place it appears and inserting ``the Federal Banking 
     Commission''; and
       (B) in paragraph (3), by striking ``Each Federal agency 
     required to undertake a review described in subsection (a) 
     shall complete the review'' and inserting ``The Federal 
     Banking Commission shall complete the review described in 
     subsection (a)''.
       (f) Amendments to Section 906.--Section 906 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3905) is amended--
       (1) in subsection (a), by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Federal Banking 
     Commission''; and
       (2) in subsection (b), by striking ``appropriate Federal 
     banking agencies'' each place it appears and inseting 
     ``Federal Banking Commission''.
       (g) Amendments to Section 907.--Section 907 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3906) is amended--
       (1) by striking ``Each appropriate Federal banking agency'' 
     each place it appears and inserting ``The Federal Banking 
     Commission''; and
       (2) by striking ``appropriate Federal banking agencies'' 
     each place it appears and inserting ``Federal Banking 
     Commission''.
       (h) Amendments to Section 908.--Section 908 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3907) is amended--
       (1) by striking ``Each appropriate Federal banking agency'' 
     each place it appears and inserting ``The Federal Banking 
     Commission'';
       (2) by striking ``appropriate Federal banking agency'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (3) by striking ``such appropriate Federal banking agency'' 
     each place it appears and inserting ``the Federal Banking 
     Commission''; and
       (4) by striking ``The Chairman of the Board of Governors of 
     the Federal Reserve System'' and inserting ``The Federal 
     Banking Commission''.
       (i) Amendments to Section 909.--Section 909 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3908) is amended--
       (1) in subsection (b), by striking ``representatives of the 
     appropriate Federal banking agencies whenever an examination 
     by such appropriate Federal banking agency'' and inserting 
     ``the Federal Banking Commission whenever an examination by 
     the Commission''; and
       (2) in subsection (c), by striking ``Federal banking 
     agencies'' and inserting ``the Federal Banking Commission''.
       (j) Amendments to Section 910.--Section 910 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3909) is amended--
       (1) in subsection (a)(1), by striking ``The appropriate 
     Federal banking agencies are'' and inserting ``The Federal 
     Banking Commission is'';
       (2) in subsection (b), by striking ``The appropriate 
     Federal banking agencies'' and inserting ``The Federal 
     Banking Commission'';
       (3) in subsection (c)(2), by striking ``any appropriate 
     Federal banking agency'' and inserting ``the Federal Banking 
     Commission'';
       (4) by striking ``each appropriate Federal banking agency'' 
     each place it appears and inserting ``the Federal Banking 
     Commission''; and
       (5) by striking ``appropriate Federal banking agency'' each 
     place it appears and inserting ``Federal Banking 
     Commission''.
       (k) Amendments to Section 911.--Section 911 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3910) is amended--
       (1) in subsection (a)--
       (A) by striking ``appropriate Federal banking agencies (as 
     defined in section 903 of this title)'' and inserting 
     ``Federal Banking Commission''; and
       (B) by striking subsection (a)(3);
       (2) by striking ``the appropriate Federal banking agency'' 
     each place it appears and inserting ``the Federal Banking 
     Commission'';
       (3) by striking ``an appropriate Federal banking agency'' 
     each place it appears and inserting ``the Federal Banking 
     Commission''; and
       (4) by striking ``each appropriate Federal banking agency'' 
     each place it appears and inserting ``the Federal Banking 
     Commission''.
       (l) Amendment to Section 912.--Section 912 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3911) is amended to read as follows:
       ``Sec. 912. As the insurer of the United States banks 
     involved in international lending, the Federal Deposit 
     Insurance Corporation shall be given equal representation 
     with the Federal Banking Commission on the Committee on 
     Banking Regulations and Supervisory Practices of the Group of 
     Ten Countries and Switzerland.''.
       (m) Amendment to Section 913.--Section 913 of the 
     International Lending Supervision Act of 1983 (12 U.S.C. 
     3912) is amended--
       (1) in the first undesignated subsection--
       (A) by striking ``appropriate Federal banking agencies'' 
     each place it appears and inserting ``Federal Banking 
     Commission'';
       (B) by striking ``Chairman of the Board of Governors of the 
     Federal Reserve System'' each place it appears and inserting 
     ``Federal Banking Commission''; and
       (C) in paragraph (3)--
       (i) by striking ``any appropriate Federal banking agency'' 
     and inserting ``the Federal Banking Commission''; and
       (ii) by striking ``the appropriate Federal banking agencies 
     of their respective authorities'' and inserting ``the Federal 
     Banking Commission of its authorities''; and
       (2) in the subsection designated ``(d)''--
       (A) by striking ``Federal banking agencies'' and inserting 
     ``Federal Banking Commission'';
       (B) by striking ``jointly'';
       (C) in paragraph (1)--
       (i) by striking ``each agency'' and inserting ``the Federal 
     Banking Commission'';
       (ii) by striking ``banking agencies'' and inserting 
     ``Federal Banking Commission''; and
       (iii) by striking ``agencies''' and inserting 
     ``Commission's'';
       (D) in paragraph (2), by striking ``appropriate Federal 
     banking agencies'' and inserting ``Federal Banking 
     Commission''; and
       (E) in the last sentence, by striking ``Each appropriate 
     Federal banking agency'' and inserting ``The Federal Banking 
     Commission''.

     SEC. 644. AMENDMENTS TO THE NATIONAL HOUSING ACT.

       (a) Amendments to Section 203.--Section 203(s) of the 
     National Housing Act (12 U.S.C. 1709(s)) is amended--
       (1) in paragraph (4), by inserting ``and'' after ``Farmers 
     Home Administration;'';
       (2) by amending paragraph (5) to read as follows:
       ``(5) if the mortgagee is a national bank, District bank, 
     State bank, or is a subsidiary or affiliate of such national 
     bank, District bank, or State bank, or a bank holding company 
     or a subsidiary or affiliate of such company, or a Federal or 
     State savings association or a subsidiary or affiliate of 
     such savings association, the Federal Banking Commission.''; 
     and
       (3) by striking paragraphs (6) through (8).
       (b) Amendments to Section 255.--Section 255(k)(3) of the 
     National Housing Act (12 U.S.C. 1715z-20(k)(3)) is amended to 
     read as follows:
       ``(3) The Preliminary evaluation shall incorporate comments 
     and recommendations solicited by the Secretary from the 
     Federal Banking Commission, the Secretary of Health and Human 
     Services, the Federal Council on Aging, and the National 
     Credit Union Administration Board regarding any of the 
     matters referred to in paragraph (1) or (2).''.

     SEC. 645. AMENDMENTS TO THE REAL ESTATE SETTLEMENT PROCEDURES 
                   ACT.

       (a) Amendment to Section 4.--(1) Subsection 4(a) of the 
     Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 
     2603(a)) is amended by striking ``the Federal Home Loan Bank 
     Board'' and inserting ``the Federal Banking Commission''.
       (2) Amendment to Section 8.--Subsection 8(c)(5) of the Real 
     Estate Settlement Procedures Act of 1974 (12 U.S.C. 
     2607(c)(5)) is amended by striking ``the Federal Home Loan 
     Bank Board'' and inserting ``the Federal Banking 
     Commission''.

     SEC. 646. AMENDMENTS TO THE RESOLUTION TRUST CORPORATION 
                   REFINANCING, RESTRUCTURING, AND IMPROVEMENT ACT 
                   OF 1991.

       Section 618 of the Resolution Trust Corporation 
     Refinancing, Restructuring, and Improvement Act of 1991 (12 
     U.S.C. 1831n note) is amended--
       (a) in subsection (a)(1), by striking ``(a) In general.--'' 
     and inserting ``(A) In general.--'';
       (b) by striking ``each Federal banking agency shall amend 
     the regulations and guidelines of the agency'' each place it 
     appears and inserting ``the Federal Banking Commission shall 
     amend the regulations and guidelines of the Commission'';
       (c) by striking ``appropriate Federal banking agency'' each 
     place it appears and inserting ``Federal Banking 
     Commission'';
       (d) in subsection (b)--
       (1) in paragraph (2), by striking ``jurisdiction of the 
     agency'' and inserting ``jurisdiction of the Federal Banking 
     Commission''; and
       (2) in paragraph (3), by striking ``jurisdiction of the 
     agency'' and inserting ``jurisdiction of the Federal Banking 
     Commission''; and
       (e) by striking subsection (c).

     SEC. 647. AMENDMENTS TO THE REVISED STATUTES.

       (a) Provisions Relating to Establishment of OCC Repealed.--
       (1) Provisions repealed.--The following sections of the 
     Revised Statutes are repealed:
       (A) Section 325 (12 U.S.C. 2).
       (B) Section 326 (12 U.S.C. 3).
       (C) Section 327 (12 U.S.C. 4).
       (D) Section 329 (12 U.S.C. 11).
       (E) Section 331 (12 U.S.C. 13).
       (2) Table of contents amended.--The table of sections for 
     chapter 9 of title VII of the Revised Statutes is amended--
       (A) in the item relating to section 330, by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''; and
       (B) by striking the item relating to each of the following 
     sections:
       (i) Section 324.
       (ii) Section 325.
       (iii) Section 326.
       (iv) Section 327.
       (v) Section 329.
       (vi) Section 331.
       (b) Amendment to Section 324.--Section 324 of the Revised 
     Statutes (12 U.S.C. 1) is amended by striking the first 
     sentence.
       (c) Amendment to Section 327A.--Section 327A of the Revised 
     Statutes (12 U.S.C. 4a) is amended by striking ``Comptroller 
     of the Currency'' and inserting ``Federal Banking 
     Commission''.
       (d) Amendment to Section 328.--Section 328 of the Revised 
     Statutes (12 U.S.C. 8) is amended to read as follows:
       ``Sec. 328. The Federal Banking Commission shall employ, 
     from time to time, the necessary clerks to discharge such 
     duties as the Commission shall direct.''.
       (e) Amendment to Section 330.--Section 330 of the Revised 
     Statutes (12 U.S.C. 12) is amended to read as follows:
       ``Sec. 330. The seal devised by the Federal Banking 
     Commission for the Commission shall be the seal of the 
     Commission after the `designated transfer date' as provided 
     in the Regulatory Consolidation Act of 1994, and may be 
     renewed when necessary by the Commission. A description of 
     the Commission's seal shall be filed in the office of the 
     Secretary of State. The seal devised by the Comptroller of 
     the Currency for his office, and approved by the Secretary of 
     the Treasury, shall continue to be the seal of the Federal 
     Banking Commission until such time as the Commission has 
     devised its own seal. A description of the Comptroller's seal 
     shall be filed in the office of the Secretary of State.''.
       (f) Amendment to Section 333.--Section 333 of the Revised 
     Statutes is amended by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''.
       (g) Amendment to Section 5133.--Section 5133 of the Revised 
     Statutes (12 U.S.C. 21) is amended--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``his'' and inserting ``the Commission's''.
       (h) Amendment to Section 5135.--Section 5135 of the Revised 
     Statutes (12 U.S.C. 23) is amended--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``his'' and inserting ``the Commission's''.
       (i) Amendment to Section 5136.--Section 5136 of the Revised 
     Statutes (12 U.S.C. 24) is amended--
       (1) in the paragraph numbered ``Seventh'', by striking 
     ``Comptroller of the Currency'' each place it appears and 
     inserting ``Federal Banking Commission''; and
       (2) in the paragraph numbered ``Eleventh''--
       (A) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (B) by striking ``Comptroller'' and inserting 
     ``Commission''.
       (j) Amendment to Section 5136A.--Section 5136A(e) of the 
     Revised Statutes (12 U.S.C. 25a(e)) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (k) Amendment to Section 5137.--Section 5137 of the Revised 
     Statutes (12 U.S.C. 29) is amended by striking ``Comptroller 
     of the Currency'' each place it appears and inserting 
     ``Federal Banking Commission''.
       (l) Amendment to Section 5138.--Section 5138 of the Revised 
     Statutes (12 U.S.C. 51) is amended by striking ``Comptroller 
     of the Currency'' each place it appears and inserting 
     ``Federal Banking Commission''.
       (m) Amendments to Section 5142.--Section 5142 of the 
     Revised Statutes (12 U.S.C. 57) is amended--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission'';
       (2) by striking ``his'' each place it appears and inserting 
     ``its''; and
       (3) in the first sentence, by striking ``said comptroller'' 
     and inserting ``Commission''.
       (n) Amendment to Section 5143.--Section 5143 of the Revised 
     Statutes (12 U.S.C. 59) is amended by striking ``Comptroller 
     of the Currency'' each place it appears and inserting 
     ``Federal Banking Commission''.
       (o) Amendment to Section 5145.--Section 5145 of the Revised 
     Statutes (12 U.S.C. 71) is amended by striking ``Comptroller 
     of the Currency'' and inserting ``Federal Banking 
     Commission''.
       (p) Amendment to Section 5146.--Section 5146 of the Revised 
     Statutes (12 U.S.C. 72) is amended--
       (1) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission''; and
       (2) in the first sentence, by striking ``in his 
     discretion'' and inserting ``in its discretion''.
       (q) Amendment to Section 5147.--Section 5147 of the Revised 
     Statutes (12 U.S.C. 73) is amended in the last sentence--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``his'' and inserting ``its''.
       (r) Amendments to Section 5154.--Section 5154 of the 
     Revised Statutes (12 U.S.C. 35) is amended--
       (1) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission'';
       (2) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission''; and
       (3) in the last sentence--
       (A) by striking ``his'' and inserting ``its''; and
       (B) by striking ``he'' and inserting ``it''.
       (s) Amendment to Section 5155.--Section 5155 of the Revised 
     Statutes (12 U.S.C. 36) is amended by striking ``Comptroller 
     of the Currency'' each place it appears and inserting 
     ``Federal Banking Commission''.
       (t) Amendments to Section 5156A.--Subsection 5156A(b) of 
     the Revised Statutes (12 U.S.C. 215c(b)) is amended--
       (1) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission''; and
       (2) in paragraph (2)(B), by striking ``Comptroller's'' and 
     inserting ``Commission's''.
       (u) Amendment to Section 5168.--Section 5168 of the Revised 
     Statutes (12 U.S.C. 26) is amended--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``Comptroller'' each place it appears and 
     inserting ``Federal Banking Commission''.
       (v) Amendments to Section 5169.--Section 5169 of the 
     Revised Statutes (12 U.S.C. 27) is amended--
       (1) by striking ``Comptroller'' each place it appears and 
     inserting ``Federal Banking Commission'';
       (2) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission''; and
       (3) in subsection (a)--
       (A) by striking ``appointed by him'' and inserting 
     ``appointed by the Federal Banking Commission'';
       (B) by striking ``his hand and official seal'' and 
     inserting ``the Federal Banking Commission's official seal'';
       (C) by striking ``his certificate'' and inserting ``the 
     Federal Banking Commission's certificate''; and
       (D) by striking ``whenever he has reason'' and inserting 
     ``whenever the Federal Banking Commission has reason''.
       (w) Amendments to Section 5191.--Section 5191 of the 
     Revised Statutes (12 U.S.C. 143) is amended--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``Comptroller'' and inserting 
     ``Commission''.
       (x) Amendment to Section 5192.--Section 5192 of the Revised 
     Statutes (12 U.S.C. 144) is amended by striking ``Comptroller 
     of the Currency'' and inserting ``Federal Banking 
     Commission''.
       (y) Amendment to Section 5199.--Subsection 5199(b) of the 
     Revised Statutes (12 U.S.C. 60(b)) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (z) Amendment to Section 5200.--Section 5200 of the Revised 
     Statutes (12 U.S.C. 84) is amended--
       (1) in subsection (b)(1), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission'';
       (2) in subsection (c)(7), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''; and
       (3) in subsection (d)--
       (A) in paragraph (1), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''; and
       (B) in paragraph (2), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''.
       (aa) Amendments to Section 5205.--Section 5205 of the 
     Revised Statutes (12 U.S.C. 55) is amended--
       (1) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission''; and
       (2) by striking ``Comptroller'' and inserting 
     ``Commission''.
       (bb) Amendment to Section 5208.--Section 5208 of the 
     Revised Statutes (12 U.S.C. 501) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (cc) Amendments to Section 5210.--Section 5210 of the 
     Revised Statutes (12 U.S.C. 62) is amended in the last 
     sentence--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``him'' and inserting ``the Commission''.
       (dd) Amendments to Section 5211.--Section 5211 of the 
     Revised Statutes (12 U.S.C. 161) is amended--
       (1) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission'';
       (2) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission'';
       (3) by striking ``he'' each place it appears and inserting 
     ``the Commission'';
       (4) by striking ``him'' each place it appears and inserting 
     ``the Commission'';
       (5) in the second sentence of subsection (a), by striking 
     ``his'' each place it appears and inserting ``its''; and
       (6) in subsection (c)--
       (A) by striking ``his'' each place it appears and inserting 
     ``its''; and
       (B) in the third sentence, by striking ``inform himself'' 
     and inserting ``be informed''.
       (ee) Amendments to Section 5213.--Section 5213 of the 
     Revised Statutes (12 U.S.C. 164) is amended--
       (1) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission''; and
       (2) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission''.
       (ff) Amendment to Section 5216.--Section 5216 of the 
     Revised Statutes (omitted from the United States Code) is 
     amended by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''.
       (gg) Amendment to Section 5218.--Section 5218 of the 
     Revised Statutes (omitted from the United States Code) is 
     amended by striking ``First Comptroller of the Treasury'' and 
     inserting ``Federal Banking Commission''.
       (hh) Amendment to Section 5220.--Section 5220 of the 
     Revised Statutes (12 U.S.C. 181) is amended by striking 
     ``Comptroller of the Currency'' each place it appears and 
     inserting ``Federal Banking Commission''.
       (ii) Amendment to Section 5221.--Section 5221 of the 
     Revised Statutes (12 U.S.C. 182) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (jj) Amendments to Section 5234.--Section 5234 of the 
     Revised Statutes (12 U.S.C. 192) is amended--
       (1) by striking ``has refused to pay its circulating notes 
     as therein mentioned, and'';
       (2) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission'';
       (3) by striking ``Comptroller'' and ``comptroller'' each 
     place they appear and inserting ``Commission''; and
       (4) by striking ``he'' each place it appears and inserting 
     ``the Commission''.
       (kk) Amendments to Section 5235.--Section 5235 of the 
     Revised Statutes (12 U.S.C. 193) is amended--
       (1) by striking ``Comptroller'' and inserting ``Federal 
     Banking Commission''; and
       (2) by striking ``he'' and inserting ``the Commission''.
       (ll) Amendments to Section 5236.--Section 5236 of the 
     Revised Statutes (12 U.S.C. 194) is amended--
       (1) by striking ``, after full provision has been first 
     made for refunding to the United States and deficiency in 
     redeeming the notes of such association,'';
       (2) by striking ``Comptroller'' and inserting ``Federal 
     Banking Commission'';
       (3) by striking ``him'' each place it appears and inserting 
     ``the Commission''; and
       (4) by striking ``his'' and inserting ``the Commission's''.
       (mm) Amendment to Section 5238.--Section 5238 of the 
     Revised Statutes (12 U.S.C. 196) is amended by striking the 
     first sentence.
       (nn) Amendments to Section 5239.--Section 5239 of the 
     Revised Statutes (12 U.S.C. 93) is amended--
       (1) in subsection (a), by striking ``Comptroller of the 
     Currency, in his own name,'' and inserting ``Federal Banking 
     Commission''; and
       (2) in subsection (b)--
       (A) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission'';
       (B) by striking ``Comptroller's'' each place it appears and 
     inserting ``Commission's''; and
       (C) in paragraph (12), by striking ``Comptroller'' and 
     inserting ``Commission''.
       (oo) Amendment to Section 5239A.--Section 5239A of the 
     Revised Statutes (12 U.S.C. 93a) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (pp) Amendments to Section 5240.--Section 5240 of the 
     Revised Statutes (12 U.S.C. 481, 482, 483, 484, and 485) is 
     amended--
       (1) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Federal Banking Commission'';
       (2) by striking ``Comptroller'' each place it appears and 
     inserting ``Commission'';
       (3) in the last sentence of the first undesignated 
     paragraph--
       (A) by striking ``he'' and inserting ``the Commission''; 
     and
       (B) by striking ``his'' and inserting ``the Commission's'';
       (4) in the third undesignated paragraph--
       (A) by striking ``Office of the Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''; and
       (B) by striking ``Office'' each place it appears and 
     inserting ``Commission'';
       (5) by striking the fifth undesignated paragraph; and
       (6) by striking the last sentence in the last paragraph.

     SEC. 648. AMENDMENTS TO THE RIGHT TO FINANCIAL PRIVACY ACT OF 
                   1978.

       (a) Amendments to Section 1101.--Section 1101 of the Right 
     to Financial Privacy Act of 1978 (12 U.S.C. 3401) is 
     amended--
       (1) in paragraph (7)(B) by amending it to read as follows:
       ``(B) the Federal Banking Commission;''
       (2) by striking paragraph (7)(E); and
       (3) by redesignating paragraphs (7)(F) through (7)(H) as 
     paragraphs (7)(E) through (7)(G), respectively.
       (b) Amendment to Section 1112.--Section 1112(e) of the 
     Right to Financial Privacy Act of 1978 (12 U.S.C. 3412(e)) is 
     amended by striking the last sentence and inserting the 
     following: ``Notwithstanding section 1101(7) or any other 
     provision of this title, the exchange of financial records or 
     other information with respect to a financial institution, 
     holding company, or any subsidiary of a depository 
     institution of holding company, among and between the Federal 
     Deposit Insurance Corporation, the Federal Banking 
     Commission, the National Credit Union Administration, the 
     Board of Governors of the Federal Reserve System, and the 
     Securities and Exchange Commission is permitted.''.
       (c) Amendment to Section 1115.--Section 1115 of the Right 
     to Financial Privacy Act of 1978 (12 U.S.C. 3415) is amended 
     in the last sentence by striking ``Board of Governors of the 
     Federal Reserve System'' and inserting ``Federal Banking 
     Commission''.

     SEC. 649. AMENDMENTS TO THE TRUTH IN LENDING ACT.

       (a) Amendment to Table of Contents.--The title of section 
     114 in the table of sections for chapter 1 of the Truth in 
     Lending Act is amended to read as follows:

``114. Reports by Federal Banking Commission and Attorney General''.
       (b) Amendments to Section 103.--Section 103 of the Truth in 
     Lending Act (15 U.S.C. 1602) is amended--
       (1) by amending subsection (b) to read as follows:
       ``(b) The term `Commission' means the Federal Banking 
     Commission.'';
     and
       (2) in subsection (f), by striking ``Board'' each place it 
     appears and inserting ``Commission''.
       (c) Amendment to Section 104.--Subsection 104(4) of the 
     Truth in Lending Act (15 U.S.C. 1603(4)) is amended by 
     striking ``Board'' and inserting ``Commission''.
       (d) Amendment to Section 105.--Section 105 of the Truth in 
     Lending Act (15 U.S.C. 1604) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (e) Amendment to Section 106.--Subsection 106(d) of the 
     Truth in Lending Act (15 U.S.C. 1605(d)) is amended by 
     striking ``Board'' and inserting ``Commission''.
       (f) Amendment to Section 107.--Section 107 of the Truth in 
     Lending Act (15 U.S.C. 1606) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (g) Amendments to Section 108.--Section 108 of the Truth in 
     Lending Act (15 U.S.C. 1607) is amended--
       (1) in subsection (a)--
       (A) by amending paragraph (1) to read as follows:
       ``(1) section 8 of the Federal Deposit Insurance Act by the 
     Chairman of the Federal Banking Commission, in the case of 
     national banks, member banks of the Federal Reserve System 
     (other than national banks), branches and agencies of foreign 
     banks, commercial lending companies owned or controlled by 
     foreign banks, organizations operating under section 25 or 
     25A of the Federal Reserve Act, banks insured by the Federal 
     Deposit Insurance Corporation (other than members of the 
     Federal Reserve System), and savings associations the 
     deposits of which are insured by the Federal Deposit 
     Insurance Corporation;'';
       (B) by striking paragraph (2); and
       (C) by redesignating paragraphs (3) through (6) as 
     paragraphs (2) through (5), respectively;
       (2) in the 3d sentence of subsection (c), by inserting 
     ``Federal Trade'' before ``Commission'';
       (3) in subsection (d), by striking ``Board'' and inserting 
     ``Federal Banking Commission''; and
       (4) in subsection (e)(3)(i), by striking ``paragraphs (1) 
     through (3) of section 108(a)'' and inserting ``paragraphs 1 
     and 2 of section 108(a)''.
       (h) Amendment to Section  109.--Section 109 of the Truth in 
     Lending Act (15 U.S.C. 1608) is amended by striking ``Board'' 
     each place that it appears and inserting ``Commission''.
       (i) Amendment to Section 111.--Subsection 111(a) of the 
     Truth in Lending Act (15 U.S.C. 1610(a)) is amended by 
     striking ``Board'' each place it appears and inserting 
     ``Commission''.
       (j) Amendment to Section 112.--Subsection 112(2) of the 
     Truth in Lending Act (15 U.S.C. 1611(2)) is amended by 
     striking ``Board'' and inserting ``Commission''.
       (k) Amendment to Section 113.--Subsection 113(a) of the 
     Truth in Lending Act (15 U.S.C. 1612(a)) is amended by 
     striking ``Board'' and inserting ``Commission''.
       (l) Amendments to Section 114.-- Section 114 of the Truth 
     in Lending Act (15 U.S.C. 1614) is amended--
       (1) in the section title, by striking ``Board'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``Board'' each place that it appears and 
     inserting ``Commission''.
       (m) Amendment to Section 121.--Section 121 of the Truth in 
     Lending Act (15 U.S.C. 1631) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (n) Amendment to Section 122.--Section 122 of the Truth in 
     Lending Act (15 U.S.C. 1632) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (o) Amendment to Section 123.--Section 123 of the Truth in 
     Lending Act (15 U.S.C. 1633) is amended by striking ``Board'' 
     and inserting ``Commission''.
       (p) Amendment to Section 125.--Section 125 of the Truth in 
     Lending Act (15 U.S.C. 1635) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (q) Amendment to Section 127.--Section 127 of the Truth in 
     Lending Act (15 U.S.C. 1637) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (r) Amendment to Section 127A.--Section 127A of the Truth 
     in Lending Act (15 U.S.C. 1637a) is amended by striking 
     ``Board'' each place it appears and inserting ``Commission''.
       (s) Amendment to Section 128.--Section 128 of the Truth in 
     Lending Act (15 U.S.C. 1638) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (t) Amendments to Section 130.--Section 130 of the Truth in 
     Lending Act (15 U.S.C. 1640) is amended--
       (1) by striking ``Board'' each place it appears and 
     inserting ``Commission''; and
       (2) in subsection (f), by striking ``Federal Reserve 
     System'' inserting ``Commission''.
       (u) Amendments to Section 136.--Section 136 of the Truth in 
     Lending Act (15 U.S.C. 1646) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (v) Amendment to Section 137.--Subsection 137(c)(4)(B) of 
     the Truth in Lending Act (15 U.S.C. 1647(c)(4)(B)) is amended 
     by striking ``Board'' each place it appears and inserting 
     ``Commission''.
       (w) Amendment to Section 143.--Subsection 143(3) of the 
     Truth in Lending Act (15 U.S.C. 1663(3)) is amended by 
     striking ``Board'' and inserting ``Commission''.
       (x) Amendment to Section 144.--Subsection 144(b) of the 
     Truth in Lending Act (15 U.S.C. 1664(b)) is amended by 
     striking ``Board'' and inserting ``Commission''.
       (y) Amendment to Section 146.--Section 146 of the Truth in 
     Lending Act (15 U.S.C. 1665a) is amended by striking 
     ``Board'' and inserting ``Commission''.
       (z) Amendment to Section 147.--Section 147 of the Truth in 
     Lending Act (15 U.S.C. 1665b) is amended by striking 
     ``Board'' each place it appears and inserting ``Commission''.
       (aa) Amendment to Section 161.--Section 161 of the Truth in 
     Lending Act (15 U.S.C. 1666) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (bb) Amendment to Section 163.--Subsection 163(b) of the 
     Truth in Lending Act (15 U.S.C. 1666b(b)) is amended by 
     striking ``Board'' and inserting ``Commission''.
       (cc) Amendment to Section 164.--Section 164 of the Truth in 
     Lending Act (15 U.S.C. 1666c) is amended by striking 
     ``Board'' and inserting ``Commission''.
       (dd) Amendment to Section 167.--Subsection 167(b) of the 
     Truth in Lending Act (15 U.S.C. 1666f(b)) is amended by 
     striking ``Board'' and inserting ``Commission''.
       (ee) Amendment to Section 171.--Section 171 of the Truth in 
     Lending Act (15 U.S.C. 1666j) is amended by striking 
     ``Board'' each place it appears and inserting ``Commission''.
       (ff) Amendment to Section 182.--The last sentence of 
     section 182 of the Truth in Lending Act (15 U.S.C. 1667a) is 
     amended by striking ``Board'' and inserting ``Commission''.
       (gg) Amendment to Section 184.--Subsection 184(a) of the 
     Truth in Lending Act (15 U.S.C. 1667c(a)) is amended by 
     striking ``Board'' and inserting ``Commission''.
       (hh) Amendment to Section 186.--Section 186 of the Truth in 
     Lending Act (15 U.S.C. 1667e) is amended by striking 
     ``Board'' each place it appears and inserting ``Commission''.

     SEC. 650. AMENDMENTS TO THE TRUTH IN SAVINGS ACT.

       (a) Amendment to Section 263.--Section 263 of the Truth in 
     Savings Act (12 U.S.C. 4302) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (b) Amendment to Section 264.--Section 264 of the Truth in 
     Savings Act (12 U.S.C. 4303) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (c) Amendment to Section 265.--Section 265 of the Truth in 
     Savings Act (12 U.S.C. 4304) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (d) Amendment to Section 266.--Section 266 of the Truth in 
     Savings Act (12 U.S.C. 4305) is amended by striking ``Board'' 
     and inserting ``Commission''.
       (e) Amendment to Section 269.--Section 269 of the Truth in 
     Savings Act (12 U.S.C. 4308) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (f) Amendment to Section 270.--Section 270 of the Truth in 
     Savings Act (12 U.S.C. 4309) is amended--
       (1) by amending paragraph (1) of subsection (a) to read as 
     follows:
       ``(1) section 8 of the Federal Deposit Insurance Act by the 
     Commission in the case of--
       ``(A) insured depository institutions (as defined in 
     section 3(c)(2) of the Federal Deposit Insurance Act);
       ``(B) depository institutions described in clause (i), (ii) 
     or (iii) of section 19(b)(1)(A) of the Federal Reserve Act 
     which are not insured depository institutions (as defined in 
     section 3(c)(2) of the Federal Deposit Insurance Act); and
       ``(C) depository institutions described in clause (v) and 
     or (vi) of section 19(b)(1)(A) of the Federal Reserve Act 
     which are not insured depository institutions (as defined in 
     section 3(c)(2) of the Federal Deposit Insurance Act); and''; 
     and
       (2) by striking ``Board'' each place it appears and 
     inserting ``Commission''.
       (g) Amendment to Section 271.--Section 271 of the Truth in 
     Savings Act (12 U.S.C. 4310) is amended by striking ``Board'' 
     each place it appears in subsection (f) and inserting 
     ``Commission''.
       (h) Amendment to Section 272.--Section 272 of the Truth in 
     Savings Act (12 U.S.C. 4311) is amended by striking ``Board'' 
     each place it appears and inserting ``Commission''.
       (i) Amendments to Section 274.--Section 274 of the Truth in 
     Savings Act (12 U.S.C. 4313) is amended--
       (1) in paragraph (2), by striking ``Board'' and inserting 
     ``Commission''; and
       (2) by amending paragraph (4) to read as follows:
       ``(4) Commission.--The term `Commission' means the Federal 
     Banking Commission.''.

     SEC. 651. REPEAL OF OBSOLETE CURRENCY STATUTES.

       (a) Obsolete Currency Provisions Repealed.--
       (1) Currency provisions in revised statutes repealed.--The 
     following sections of the Revised Statutes are repealed:
       (A) Section 5203 (12 U.S.C. 87).
       (B) Section 5206 (12 U.S.C. 88).
       (C) Section 5196 (12 U.S.C. 89).
       (D) Section 5158 (12 U.S.C. 102).
       (E) Section 5159 (12 U.S.C. 101a).
       (F) Section 5172 (12 U.S.C. 104).
       (G) Section 5173 (12 U.S.C. 107).
       (H) Section 5174 (12 U.S.C. 108).
       (I) Section 5182 (12 U.S.C. 109).
       (J) Section 5183 (12 U.S.C. 110).
       (K) Section 5195 (12 U.S.C. 123).
       (L) Section 5184 (12 U.S.C. 124).
       (M) Section 5226 (12 U.S.C. 131).
       (N) Section 5227 (12 U.S.C. 132).
       (O) Section 5228 (12 U.S.C. 133).
       (P) Section 5229 (12 U.S.C. 134).
       (Q) Section 5230 (12 U.S.C. 137).
       (R) Section 5231 (12 U.S.C. 138).
       (S) Section 5232 (12 U.S.C. 135).
       (T) Section 5233 (12 U.S.C. 136).
       (U) Section 5185 (12 U.S.C. 151).
       (V) Section 5186 (12 U.S.C. 152).
       (W) Section 5160 (12 U.S.C. 168).
       (X) Section 5161 (12 U.S.C. 169).
       (Y) Section 5162 (12 U.S.C. 170).
       (Z) Section 5163 (12 U.S.C. 171).
       (AA) Section 5164 (12 U.S.C. 172).
       (BB) Section 5165 (12 U.S.C. 173).
       (CC) Section 5166 (12 U.S.C. 174).
       (DD) Section 5167 (12 U.S.C. 175).
       (EE) Section 5222 (12 U.S.C. 183).
       (FF) Section 5223 (12 U.S.C. 184).
       (GG) Section 5224 (12 U.S.C. 185).
       (HH) Section 5225 (12 U.S.C. 186).
       (II) Section 5237 (12 U.S.C. 195).
       (2) Currency provisions in other statutes repealed.--The 
     following provisions of law are repealed:
       (A) Section 12 of the Act entitled ``An Act to define and 
     fix the standard of value, to maintain the parity of all 
     forms of money issued or coined by the United States, to 
     refund the public debt, and for other purposes.'' and 
     approved March 14, 1900 (12 U.S.C. 101).
       (B) Section 3 of the Act entitled ``An Act to amend the 
     laws relating to the denominations, and notes by national 
     banks and to permit the issuance of notes of small 
     denominations, and for other purposes.'' and approved October 
     5, 1917 (12 U.S.C. 103).
       (C) The following sections of the Act entitled ``An Act 
     fixing the amount of United States notes, providing for a 
     redistribution of the national-bank currency, and for other 
     purposes.'' and approved June 20, 1874:
       (i) Section 5 (12 U.S.C. 105).
       (ii) Section 3 (12 U.S.C. 121).
       (iii) Section 8 (12 U.S.C. 126).
       (iv) Section 4 (12 U.S.C. 176).
       (D) The following sections of the Act entitled ``An Act to 
     enable national-banking associations to extend their 
     corporate existence, and for other purposes.'' and approved 
     July 12, 1882:
       (i) Section 8 (12 U.S.C. 177).
       (ii) Section 9 (12 U.S.C. 178).
       (3) Other statutes repealed.--
       (A) The Act entitled ``An Act to amend the National Bank 
     Act in providing for redemption of national bank notes stolen 
     from or lost by banks of issue.'' and approved July 28, 1892 
     (12 U.S.C. 125) is repealed.
       (B) The Act entitled ``An Act authorizing the conversion of 
     national gold banks.'' and approved February 14, 1880 (12 
     U.S.C. 153) is repealed.
       (b) Federal Reserve Act and Other Laws Amended.--
       (1) Federal reserve act.--
       (A) The eighth paragraph of the fourth undesignated 
     paragraph of section 4 of the Federal Reserve Act (12 U.S.C. 
     341) is amended by striking ``Comptroller of the Currency'' 
     and inserting ``Secretary of the Treasury''.
       (B) Subsection 11(d) of the Federal Reserve Act (12 U.S.C. 
     248(d)) is amended--
       (i) by striking ``bureau under the charge of the 
     Comptroller of the Currency'' and inserting ``Secretary of 
     the Treasury''; and
       (ii) by striking ``Comptroller'' the second place it 
     appears and inserting ``Secretary''.
       (C) Section 16 of the Federal Reserve Act is amended--
       (i) in the first sentence of the eighth undesignated 
     paragraph (12 U.S.C. 418), by striking ``the Comptroller of 
     the Currency shall, under the direction of the Secretary of 
     the Treasury,'' and inserting ``the Secretary of the Treasury 
     shall'';
       (ii) in the ninth undesignated paragraph (12 U.S.C. 419), 
     to read as follows:
       ``When such notes have been prepared, the notes shall be 
     delivered to the Board of Governors of the Federal Reserve 
     System subject to the order of the Secretary of the Treasury 
     for the delivery of such notes in accordance with this 
     Act.'';
       (iii) in the tenth undesignated paragraph (12 U.S.C. 420)--

       (I) by striking ``Comptroller of the Currency'' and 
     inserting ``Secretary of the Treasury''; and
       (II) by striking ``Federal Reserve Board'' and inserting 
     ``Board of Governors of the Federal Reserve System''; and

       (iv) in the eleventh undesignated paragraph (12 U.S.C. 
     421), to read as follows:
       ``The Secretary of the Treasury may examine the plates, 
     dies, bed pieces, and other material used in the printing of 
     Federal Reserve notes and may issue regulations relating to 
     such examinations.''.
       (D) The sixth undesignated paragraph of section 18 of the 
     Federal Reserve Act (omitted from U.S. Code) is amended--
       (i) by striking ``Comptroller of the Currency'' each place 
     it appears and inserting ``Secretary of the Treasury''; and
       (ii) in the seventh sentence, by striking ``Comptroller'' 
     and inserting ``Secretary of the Treasury''.
       (2) Other laws.--
       (A) The Act entitled ``An Act to provide for the redemption 
     of national-bank notes, Federal Reserve notes, and Federal 
     Reserve notes which cannot be identified as to the bank of 
     issue.'' and approved June 13, 1933, is amended--
       (i) in the first section (12 U.S.C. 121a)--

       (I) by striking ``whenever any national-bank notes, Federal 
     Reserve bank notes,'' and inserting ``whenever any Federal 
     Reserve bank notes''; and
       (II) by striking ``, and the notes, other than Federal 
     Reserve notes, so redeemed shall be forwarded to the 
     Comptroller of the Currency for cancellation and 
     destruction''; and

       (ii) in the second section (12 U.S.C. 122a)--

       (I) by striking ``National-bank notes and''; and
       (II) by striking ``national-bank notes and''.

       (B) The first section of the Act entitled ``An Act making 
     appropriations for sundry civil expenses of Government for 
     the fiscal year ending June thirtieth, eighteen hundred and 
     seventy-six, and for other purposes.'' and approved March 3, 
     1875 (12 U.S.C. 106), is amended in the first paragraph that 
     appears under the heading ``National Currency.'' by striking 
     ``Secretary of the Treasury: Provided, That'' and all that 
     follows through the period and inserting ``Secretary of the 
     Treasury.''.
       (C) The Act entitled ``An Act to simplify the accounts of 
     the Treasurer of the United States, and for other purposes.'' 
     and approved October 10, 1940 (12 U.S.C. 177a) is amended by 
     striking all after the enacting clause and inserting the 
     following: ``The cost of transporting and redeeming 
     outstanding national bank notes and Federal Reserve bank 
     notes as may be presented to the Treasurer of the United 
     States for redemption shall be paid from the regular annual 
     appropriation for the Department of the Treasury.''.
       (D) Section 5234 of the Revised Statutes (12 U.S.C. 192) is 
     amended by striking ``has refused to pay its circulating 
     notes as therein mentioned, and''.
       (E) Section 5236 of the Revised Statutes (12 U.S.C. 194) is 
     amended by striking ``, after full provision has been first 
     made for refunding to the United States any deficiency in 
     redeeming the notes of such association,''.
       (F) Section 5238 of the Revised Statutes (12 U.S.C. 196) is 
     amended by striking the first sentence.
       (c) Clercial Amendments.--
       (1) The table of sections for chapter 1 of title LXII of 
     the Revised Statutes of the United States is amended--
       (A) by inserting after the item relating to section 5156 
     the following new item:

``5156A. Mergers, consolidations, and other acquisitions authorized.'';

     and
       (B) by striking the items relating to sections 5141 and 
     5151.
       (2) The table of sections for chapter 2 of title LXII of 
     the Revised Statutes of the United States is amended--
       (A) by striking ``obtaining and issuing circulating 
     notes.'' and inserting ``certification for commencement of 
     business and national banking associations.'';
       (B) in the item relating to section 5168, by striking 
     ``Comptroller'' and inserting ``Federal Banking Commission''; 
     and
       (C) by striking the item relating to each of the following 
     sections:
       (i) Section 5158.
       (ii) Section 5159.
       (iii) Section 5160.
       (iv) Section 5161.
       (v) Section 5162.
       (vi) Section 5163.
       (vii) Section 5164.
       (viii) Section 5165.
       (ix) Section 5166.
       (x) Section 5167.
       (xi) Section 5171.
       (xii) Section 5172.
       (xiii) Section 5173.
       (xiv) Section 5174.
       (xv) Section 5175.
       (xvi) Section 5176.
       (xvii) Section 5177.
       (xviii) Section 5178.
       (xix) Section 5179.
       (xx) Section 5180.
       (xxi) Section 5181.
       (xxii) Section 5182.
       (xxiii) Section 5183.
       (xxiv) Section 5184.
       (xxv) Section 5185.
       (xxvi) Section 5186.
       (xxvii) Section 5187.
       (xxviii) Section 5188.
       (xxix) Section 5189.
       (3) The table of sections for chapter 3 of title LXII of 
     the Revised Statutes of the United States is amended--
       (A) in the item relating to section 5211, by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''; and
       (B) by striking the item relating to each of the following 
     sections:
       (i) Section 5193.
       (ii) Section 5194.
       (iii) Section 5195.
       (iv) Section 5196.
       (v) Section 5202.
       (vi) Section 5203.
       (vii) Section 5206.
       (viii) Section 5209.
       (ix) Section 5212.
       (4) The table of sections for chapter 4 of title LXII of 
     the Revised Statutes of the United States is amended--
       (A) by inserting after the item relating to section 5239 
     the following new item:

``5239A. Regulatory authority.'';

     and
       (B) by striking the items relating to the following 
     sections:
       (i) Section 5222.
       (ii) Section 5223.
       (iii) Section 5224.
       (iv) Section 5225.
       (v) Section 5226.
       (vi) Section 5227.
       (vii) Section 5228.
       (viii) Section 5229.
       (ix) Section 5230.
       (x) Section 5231.
       (xi) Section 5232.
       (xii) Section 5233.
       (xiii) Section 5237.
       (xiv) Section 5243.

           TITLE VII--CONFORMING AMENDMENTS TO OTHER STATUTES

     SEC. 701. AMENDMENTS TO THE BALANCED BUDGET AND EMERGENCY 
                   DEFICIT CONTROL ACT OF 1985.

       (a) Amendment to Section 250.--Section 250(c)(19) of the 
     Balanced Budget and Emergency Deficit Control Act of 1985 (2 
     U.S.C. 900(c)(19)) is amended by striking ``Office of Thrift 
     Supervision, the Comptroller of the Currency Assessment 
     Fund'' and inserting ``Federal Banking Commission''.
       (b) Amendments to Section 255.--Section 255(g)(1)(A) of the 
     Balanced Budget and Emergency Deficit Control Act of 1985 (2 
     U.S.C. 905(g)(1)(A)) is amended--
       (1) by striking ``Comptroller of the Currency'';
       (2) by striking ``Director of the Office of Thrift 
     Supervision''; and
       (3) inserting ``Federal Banking Commission'' before 
     ``Federal Deposit Insurance Corporation''.
       (c) Amendments to Section 256.--Section 256(h)(4) of the 
     Balanced Budget and Emergency Deficit Control Act of 1985 (2 
     U.S.C. 906(h)(4)) is amended--
       (1) in subparagraph (A), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission'';
       (2) by striking subparagraphs (C) and (D); and
       (3) by redesignating subparagraphs (E) through (I) as 
     subparagraphs (C) through (G).

     SEC. 702. AMENDMENTS TO THE BANKRUPTCY CODE.

       (a) Amendment to Section 101.--Section 101(3)(A) of the 
     Bankruptcy Code (11 U.S.C. 101(3)(A)) is amended by striking 
     ``the appropriate Federal banking agency (as defined in 
     section 3(q) of such Act)'' and inserting ``the Federal 
     Banking Commission''.
       (b) Amendments to Section 365.--Section 365(o) of the 
     Bankruptcy Code (11 U.S.C. 356(o)) is amended--
       (1) by striking ``Director of the Office of Thrift 
     Supervision, the Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission''; and
       (2) by striking ``its'' and inserting ``their''.
       (c) Amendment to Section 507.--Section 507(a)(8) of the 
     Bankruptcy Code (11 U.S.C. 507(a)(8)) is amended by striking 
     ``Director of the Office of Thrift Supervision, the 
     Comptroller of the Currency'' and inserting ``Federal Banking 
     Commission''.

     SEC. 703. AMENDMENTS TO THE COMMODITY EXCHANGE ACT.

       Section 4f(c) of the Commodity Exchange Act (7 U.S.C. 
     6f(c)) is amended--
       (a) in paragraph (1)--
       (1) by striking the colon after ``subsection'';
       (2) by striking ``(i) The'' and inserting ``the''; and
       (3) by striking clause (ii);
       (b) by striking ``the Federal banking agency'', and ``a 
     Federal banking agency'', and ``any Federal banking agency'' 
     each place they appear and inserting ``the Federal Banking 
     Commission'';
       (c) in paragraph (4)(A), by striking ``each such Federal 
     banking agency'' and inserting ``the Federal Banking 
     Commission''; and
       (d) in paragraph (5), by striking ``the agency'' each place 
     it appears and inserting ``the Federal Banking Commission''.

     SEC. 704. AMENDMENTS TO THE CRIME CONTROL ACT OF 1990.

       (a) Amendments to Section 2539.--Section 2539(c)(2) of the 
     Crime Control Act of 1990, Public Law 101-647, is amended--
       (1) in subparagraph (C), by striking ``Office of Thrift 
     Supervision'' and inserting ``Federal Banking Commission''; 
     and
       (2) by striking subparagraph (F) and redesignating 
     subparagraphs (G) and (H) as subparagraphs (F) through (G).
       (b) Amendment to Section 2554.--Section 2554(b)(2) of the 
     Crime Control Act of 1990, Public Law 101-647, is amended by 
     striking ``Director of the Office of Thrift Supervision'' and 
     inserting ``Chairman of the Federal Banking Commission''.

     SEC. 705. AMENDMENT TO THE ENERGY CONSERVATION AND PRODUCTION 
                   ACT.

       Section 303(7) of the Energy Conservation and Product Act 
     (42 U.S.C. 6832(7)) is amended by striking ``Board of 
     Governors of the Federal Reserve System, the Federal Deposit 
     Insurance Corporation, the Comptroller of the Currency, the 
     Federal Home Loan Bank Board, the Federal Savings and Loan 
     Insurance Corporation'' and inserting ``Federal Banking 
     Commission''.

     SEC. 706. AMENDMENTS TO THE FARM CREDIT ACT OF 1971.

       (a) Amendment to Section 5.20.--Section 5.20 of the Farm 
     Credit Act of 1971 (12 U.S.C. 2255) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (b) Amendment to Section 5.22.--Section 5.22 of the Farm 
     Credit Act of 1971 (12 U.S.C. 2257) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.

     SEC. 707. AMENDMENTS TO THE FEDERAL TRADE COMMISSION ACT.

       Section 18(f) of the Federal Trade Commission Act (15 
     U.S.C. 57a(f)) is amended--
       (a) in the heading of subsection (f), by striking ``Board 
     of Governors of the Federal Reserve System, Federal Home Loan 
     Bank Board'' and inserting ``Federal Banking Commission'';
       (b) in paragraph (1)--
       (1) by striking ``The Board of Governors of the Federal 
     Reserve System (with respect to banks) and the Federal Home 
     Loan Bank Board (with respect to'' and inserting ``The 
     Federal Banking Commission (with respect to banks described 
     in paragraph (2) and''; and
       (2) by striking ``such Board'' each place it appears and 
     inserting ``such agency'';
       (c) in paragraph (2)--
       (1) by striking ``in the case of--''; and
       (2) by striking subparagraphs (A) through (C) and inserting 
     ``by the Federal Banking Commission in the case of national 
     banks, banks operating under the code of law for the District 
     of Columbia, member banks of the Federal Reserve System 
     (other than national banks), branches and agencies of foreign 
     banks, commercial lending companies owned or controlled by 
     foreign banks, and organizations operating under section 25 
     or 25A of the Federal Reserve Act, savings associations and 
     other banks insured by the Federal Deposit Insurance 
     Corporation.'';
       (d) in paragraph (5)--
       (1) by striking ``any agency referred to in paragraph (2)'' 
     and inserting ``the Federal Banking Commission''; and
       (2) by striking ``each of the agencies referred to in that 
     paragraph'' and inserting ``the Federal Banking Commission''; 
     and
       (e) in paragraph (6), by striking ``Board of Governors of 
     the Federal Reserve System'' and inserting ``Federal Banking 
     Commission''; and
       (f) by striking paragraph (3) and redesignating paragraphs 
     (4) through (7) as paragraphs (3) through (6).

     SEC. 708. AMENDMENT TO THE FINANCIAL REPORTS ACT OF 1988.

       Section 3602 of the Financial Reports Act of 1988 (22 
     U.S.C. 5352) is amended by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''.

     SEC. 709. AMENDMENT TO THE FLOOD DISASTER PROTECTION ACT OF 
                   1973.

       Section 3(a)(5) of the Flood Disaster Protection Act of 
     1973, as amended (42 U.S.C. 4003(a)(5)) is amended by 
     striking ``Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission.''

     SEC. 710. AMENDMENTS TO THE INTERNAL REVENUE CODE OF 1986.

       (a) Amendment to Section 581.--Section 581 of the Internal 
     Revenue Code (26 U.S.C. 581) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (b) Amendment to Section 584.--Section 584(a)(2) of the 
     Internal Revenue Code (26 U.S.C. 584(a)(2)) is amended by 
     striking ``Board of Governors of the Federal Reserve System 
     or the Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (c) Amendment to Section 3305.--Section 3305(c) of the 
     Internal Revenue Code (26 U.S.C. 3305(c)) is amended by 
     striking ``Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission''.
       (d) Amendment to Section 7507.--Section 7507(a) of the 
     Internal Revenue Code (26 U.S.C. 7507(a)) is amended by 
     striking ``Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission''.

     SEC. 711. AMENDMENT TO THE INVESTMENT ADVISERS ACT OF 1940.

       Section 202(a)(2) of the Investment Advisers Act of 1940 
     (15 U.S.C. 80b-2(a)(2)) is amended by striking ``Comptroller 
     of the Currency'' and inserting ``Federal Banking 
     Commission''.

     SEC. 712. AMENDMENTS TO THE INVESTMENT COMPANY ACT OF 1940.

       (a) Amendment to Section 2.--Section 2(a)(5) of the 
     Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(5)) is 
     amended by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''.
       (b) Amendment to Section 6.--Section 6(a)(3) of the 
     Investment Company Act of 1940 (15 U.S.C. 80a-6(a)(3)) is 
     amended by inserting ``or successor thereto'' after ``Federal 
     Savings and Loan Insurance Corporation''.

     SEC. 713. AMENDMENTS TO THE NEIGHBORHOOD REINVESTMENT 
                   CORPORATION ACT.

       (a) Amendments to Section 604.--Section 604 of the 
     Neighborhood Reinvestment Corporation Act, as amended (42 
     U.S.C. 8103) is amended--
       (1) in subsection (a)(5), by striking ``Comptroller of the 
     Currency'' and inserting ``Chairman of the Federal Banking 
     Commission''; and
       (2) in subsection (f), by striking ``Comptroller of the 
     Currency, through a duly designated Deputy Comptroller''.
       (b) Amendment to Section 606.--Section 606 of the 
     Neighborhood Reinvestment Corporation Act, as amended (42 
     U.S.C. 8105(c)(3)) is amended--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``the Federal Home Loan Bank Board''.

     SEC. 714. AMENDMENT TO THE PAPERWORK REDUCTION ACT OF 1980.

       Section 3502(10) of the Paperwork Reduction Act of 1980 (44 
     U.S.C. 3502(10)) is amended by inserting ``the Federal 
     Banking Commission'' after the ``Consumer Product Safety 
     Commission''.

     SEC. 715. AMENDMENTS TO THE SECURITIES EXCHANGE ACT OF 1934.

       (a) Amendments to Section 3.--Section 3 of the Securities 
     Exchange Act of 1934 (15 U.S.C. 78c) is amended--
       (1) in subsection (a)--
       (A) in paragraph (6), by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''; and
       (B) by amending paragraph (34) to read as follows:
       ``(34) The term `appropriate regulatory agency' means:
       ``(A) When used with respect to a municipal securities 
     dealer--
       ``(i) the Federal Banking Commission, in the case of--

       ``(I) a national bank or a bank operating under the Code of 
     Law for the District of Columbia, or a subsidiary or a 
     department or division of any such bank;
       ``(II) a State member bank of the Federal Reserve System, a 
     subsidiary or a department or division thereof, a bank 
     holding company, a subsidiary of a bank holding company which 
     is a bank other than a bank specified in subclause (I) or 
     (III) of this subparagraph, or a subsidiary or a department 
     or division of such subsidiary; and
       ``(III) a bank insured by the Federal Deposit Insurance 
     Corporation (other than a member of the Federal Reserve 
     System), or a subsidiary or department or division thereof; 
     and

       ``(ii) the Commission in the case of all other municipal 
     securities dealers.
       ``(B) When used with respect to a clearing agency or 
     transfer agent--
       ``(i) the Federal Banking Commission, in the case of--

       ``(I) a national bank or a bank operating under the Code of 
     Law for the District of Columbia, or a subsidiary of any such 
     bank;
       ``(II) a State member bank of the Federal Reserve System, a 
     subsidiary thereof, a bank holding company, or a subsidiary 
     of a bank holding company which is a bank other than a bank 
     specified in subclause (I) or (II) of this subparagraph; and
       ``(III) a bank insured by the Federal Deposit Insurance 
     Corporation (other than a member of the Federal Reserve 
     System), or a subsidiary thereof; and

       ``(ii) the Commission in the case of all other clearing 
     agencies and transfer agents.
       ``(C) When used with respect to a participant or applicant 
     to become a participant in a clearing agency or a person 
     requesting or having access to services offered by a clearing 
     agency--
       ``(i) the Federal Banking Commission, when the appropriate 
     regulatory agency for such clearing agency is not the 
     Commission, in the case of--

       ``(I) a national bank or a bank operating under the Code of 
     Law for the District of Columbia;
       ``(II) a State member bank of the Federal Reserve System, a 
     bank holding company, or a subsidiary of a bank holding 
     company, or a subsidiary of a bank holding company which is a 
     bank other than a bank specified in subclause (I) or (III) of 
     this subparagraph; and
       ``(III) a bank insured by the Federal Deposit Insurance 
     Corporation (other than a member of the Federal Reserve 
     System); and

       ``(ii) the Commission in all other cases.
       ``(D) When used with respect to an institutional investment 
     manager which is a bank the deposits of which are insured in 
     accordance with the Federal Deposit Insurance Act (12 U.S.C. 
     1811 et seq.), the Federal Banking Commission.
       ``(E) When used with respect to a national securities 
     exchange or registered securities association, member 
     thereof, person associated with a member thereof, applicant 
     to become a member thereof or to become associated with a 
     member thereof, or person requesting or having access to 
     services offered by such exchange or association or member 
     thereof, or the Municipal Securities Rulemaking Board, the 
     Commission.
       ``(F) When used with respect to a person exercising 
     investment discretion with respect to an account--
       ``(i) the Federal Banking Commission, in the case of--

       ``(I) a national bank or a bank operating under the Code of 
     Law for the District of Columbia;
       ``(II) any other member bank of the Federal Reserve System; 
     and
       ``(III) any other bank the deposits of which are insured in 
     accordance with the Federal Deposit Insurance Act; and

       ``(ii) the Commission in the case of all other such 
     persons.
       ``(G) When used with respect to a government securities 
     broker or government securities dealer, or person associated 
     with a government securities broker or government securities 
     dealer:--
       ``(i) the Federal Banking Commission, in the case of--

       ``(I) a national bank or a bank in the District of Columbia 
     examined by the Federal Banking Commission;
       ``(II) a foreign bank, a branch or agency of a foreign 
     bank, a commercial lending company owned or controlled by a 
     foreign bank (as such terms are used in the International 
     Banking Act of 1978), or a corporation organized or having an 
     agreement with the Federal Banking Commission pursuant to 
     section 25 or 25A of the Federal Reserve Act;
       ``(III) a State member bank of the Federal Reserve System;
       ``(IV) a bank insured by the Federal Deposit Insurance 
     Corporation (other than a member of the Federal Reserve 
     System or a Federal savings bank); and
       ``(V) a savings association (as defined in section 3(b) of 
     the Federal Deposit Insurance Act) the deposits of which are 
     insured by the Federal Deposit Insurance Corporation; and

       ``(ii) the Commission, in the case of all other government 
     securities brokers and government securities dealers.
     ``As used in this paragraph, the terms `bank holding company' 
     and `subsidiary of a bank holding company' have the meanings 
     given them in section 2 of the Bank Holding Company Act of 
     1956 (12 U.S.C. 1841).''.
       (b) Amendment to Section 12.--Section 12(i) of the 
     Securities Exchange Act of 1934 (12 U.S.C. 78l(i)) is amended 
     to read as follows:
       ``(i) Securities Issued By Banks.--In respect of any 
     securities issued by banks and savings associations the 
     deposits of which are insured in accordance with the Federal 
     Deposit Insurance Act, the powers, functions, and duties 
     vested in the Commission to administer and enforce sections 
     12, 13, 14(a), 14(c), 14(d), 14(f), and 16 of this title are 
     vested in the Federal Banking Commission. The Federal Banking 
     Commission shall have the power to make such rules and 
     regulations as may be necessary for the execution of the 
     functions vested in it as provided in this subsection. In 
     carrying out its responsibilities under this subsection, the 
     Federal Banking Commission shall issue substantially similar 
     regulations to regulations and rules issued by the Commission 
     under sections 12, 13, 14(a), 14(c), 14(d), 14(f), and 16 of 
     this title, unless it finds that implementation of 
     substantially similar regulations with respect to insured 
     banks and insured institutions are not necessary or 
     appropriate in the public interest or for protection of 
     investors, and publish such findings, and the detailed 
     reasons therefor, in the Federal Register. Such regulations 
     of the Federal Banking Commission, or the reasons for failure 
     to publish such substantially similar regulations to those of 
     the Commission, shall be published in the Federal Register 
     within 120 days of October 28, 1974, and, thereafter, within 
     60 days of any changes made by the Commission in its relevant 
     regulations and rules.''.
       (c) Amendment to Section 13.--Section 13(f)(4) of the 
     Securities Exchange Act of 1934 (15 U.S.C. 78m(f)(4)) is 
     amended in the last sentence by striking ``appropriate 
     regulatory agency'' and inserting ``Federal Banking 
     Commission''.
       (d) Amendments to Section 15.--Section 15(c) of the 
     Securities Exchange Act of 1934 (15 U.S.C. 78o(c)) is 
     amended--
       (1) in paragraph (1)(E)--
       (A) in the 1st sentence, by striking ``each appropriate 
     regulatory agency'' and inserting ``Federal Banking 
     Commission''; and
       (B) in the second sentence, by striking ``any appropriate 
     regulatory agency'' and inserting ``Federal Banking 
     Commission''; and
       (2) in paragraph (2)(E)--
       (A) in the 1st sentence, by striking ``each appropriate 
     regulatory agency'' and inserting ``Federal Banking 
     Commission''; and
       (B) in the second sentence, by striking ``any appropriate 
     regulatory agency'' and inserting ``Federal Banking 
     Commission''.
       (e) Amendments to Section 15B.--Section 15B(c) of the 
     Securities Exchange Act of 1934 (15 U.S.C. 78o-4) is 
     amended--
       (1) in paragraph (5)--
       (A) by striking ``such appropriate regulatory agency'' each 
     place it appears and inserting ``the Federal Banking 
     Commission''; and
       (B) in the first sentence, by striking ``With respect to 
     any municipal securities dealer for which the Commission is 
     not the appropriate regulatory agency, the appropriate 
     regulatory agency for such municipal securities dealer'' and 
     inserting ``With respect to any municipal securities dealer 
     for which the Federal Banking Commission is the appropriate 
     regulatory agency, the Federal Banking Commission''; and
       (2) in paragraph (6)(A)--
       (A) by striking ``appropriate regulatory agency for such 
     municipal securities dealer'' and inserting ``Federal Banking 
     Commission''; and
       (B) by striking ``such appropriate regulatory agency'' each 
     place it appears and inserting ``the Federal Banking 
     Commission''.
       (f) Amendments to Section 15C.--Section 15C of the 
     Securities Exchange Act of 1934 (15 U.S.C. 78o-5) is 
     amended--
       (1) in subsection (b)(2)(C)--
       (A) in the heading of subsection (b)(2)(C), by striking 
     ``federal banking agency'' and inserting ``federal banking 
     commission'';
       (B) by striking ``the Federal banking agency'', and ``a 
     Federal banking agency'', and ``any Federal banking agency'' 
     each place they appear and inserting ``the Federal Banking 
     Commission'';
       (C) in clause (i), by striking ``each such Federal banking 
     agency'' and inserting ``Federal Banking Commission'';
       (D) in the heading of clause (ii), by striking ``banking 
     agency'' and inserting ``federal banking commission'';
       (E) in clause (iii)--
       (i) by striking ``the appropriate regulatory agency'' each 
     place it appears and inserting ``the Commission'';
       (ii) in subclause (I), by striking ``such banking agency'' 
     and inserting ``the Federal Banking Commission''; and
       (iii) in subclause (II), by striking ``such agency'' each 
     place it appears and inserting ``the Federal Banking 
     Commission'';
       (F) in clause (v), by striking ``an appropriate regulatory 
     agency'' and inserting ``the Commission'';
       (G) in clause (vi)--
       (i) in the heading, by striking ``banking agencies'' and 
     inserting ``the Federal Banking Commission''; and
       (ii) by striking ``appropriate regulatory agency'' and 
     ``the appropriate regulatory agency'' each place they appear 
     and inserting ``the Commission''; and
       (H) by striking clause (vii);
       (2) in subsection (c)(2)(E), by striking ``Each appropriate 
     regulatory agency (other than the Commission)'' and inserting 
     ``The Federal Banking Commission'';
       (3) in subsection (d)--
       (A) in paragraph (2)--
       (i) by striking ``an appropriate regulatory agency'' and 
     inserting ``the Federal Banking Commission'';
       (ii) by striking ``recipient agency'' and inserting 
     ``Federal Banking Commission'';
       (iii) by striking ``any appropriate regulatory agency'' and 
     inserting ``the Federal Banking Commission''; and
       (B) in paragraph (3)--
       (i) in subparagraph (A), by striking ``an appropriate 
     regulatory agency'', and inserting ``the Federal Banking 
     Commission'';
       (ii) in subparagraph (C), by striking ``the appropriate 
     regulatory agency'' after ``the Commission shall notify'' and 
     inserting ``the Federal Banking Commission'';
       (iii) in subparagraph (D)--

       (I) by striking ``any other appropriate regulatory agency'' 
     and inserting ``the Federal Banking Commission''; and
       (II) by striking ``other appropriate regulatory agencies'' 
     each place it appears and inserting ``Federal Banking 
     Commission'';

       (iv) in subparagraph (E), by striking ``any appropriate 
     regulatory agency other than the Commission'' and inserting 
     ``the Federal Banking Commission''; and
       (v) in subparagraph (F)--

       (I) in the first sentence, by striking ``appropriate 
     regulatory agencies'' and inserting ``Federal Banking 
     Commission''; and
       (II) in the second sentence--

       (aa) by striking ``any appropriate regulatory agency'' each 
     place it appears and inserting ``the Federal Banking 
     Commission''; and
       (bb) by striking ``appropriate regulatory agency'' and 
     inserting ``Federal Banking Commission'';
       (4) in subsection (g)(1)--
       (A) by striking ``the Comptroller of the Currency'' and 
     inserting ``the Federal Banking Commission''; and
       (B) by striking ``the Director of the Office of Thrift 
     Supervision, the Federal Savings and Loan Insurance 
     Corporation,''.
       (g) Amendments to Section 17.--Section 17 of the Securities 
     Exchange Act of 1934 (15 U.S.C. 78q) is amended--
       (1) in subsection (b)--
       (A) by striking ``appropriate regulatory agency for such 
     persons'' each place it appears and inserting ``Federal 
     Banking Commission'';
       (B) by striking ``for which it is not the appropriate 
     regulatory agency, give notice to the appropriate regulatory 
     agency for such clearing agency, transfer agent, or municipal 
     securities dealer'' and inserting ``for which the Federal 
     Banking Commission is the appropriate regulatory agency, give 
     notice to the Federal Banking Commission''; and
       (C) by striking ``such appropriate regulatory agency'' each 
     place it appears and inserting ``the Federal Banking 
     Commission'';
       (2) in subsection (c)--
       (A) in paragraph (1)--
       (i) by striking ``for which the Commission is not the 
     appropriate regulatory agency'' and inserting ``for which the 
     Federal Banking Commission is the appropriate regulatory 
     agency'';
       (ii) by striking ``appropriate regulatory agency for such 
     clearing agency, transfer agent, or municipal securities 
     dealer'' and inserting ``Federal Banking Commission'';
       (iii) by striking ``such appropriate regulatory agency'' 
     and inserting ``the Federal Banking Commission''; and
       (iv) by striking ``each agency enumerated in section 
     3(a)(34)(A) of this title'' and inserting ``Federal Banking 
     Commission'';
       (B) in paragraph (2)--
       (i) by striking ``The appropriate regulatory agency for a 
     clearing agency, transfer agent, or municipal securities 
     dealer for which the Commission is not the appropriate 
     regulatory agency'' and inserting ``The Federal Banking 
     Commission'';
       (ii) by striking ``by such appropriate regulatory agency'' 
     and inserting ``by the Federal Banking Commission'';
       (iii) by striking ``such appropriate regulatory agency, if 
     any,'' and inserting ``the Federal Banking Commission''; and
       (iv) by striking ``the agency'' and inserting ``the Federal 
     Banking Commission'';
       (C) in paragraph (3), by striking ``appropriate regulatory 
     agency for a clearing agency, transfer agent, or municipal 
     securities dealer for which the Commission is not the 
     appropriate regulatory agency'' and inserting ``Federal 
     Banking Commission''; and
       (D) in paragraph (4)--
       (i) by striking ``the appropriate regulatory agency'' each 
     place it appears and inserting ``the Federal Banking 
     Commission'';
       (ii) by striking ``such agency'' and inserting ``the 
     Federal Banking Commission''; and
       (iii) by striking ``, or filed with another appropriate 
     regulatory agency'';
       (3) in subsection (f)(4)--
       (A) by striking the colon after ``to'' and inserting ``the 
     Federal Banking Commission.''; and
       (B) by striking subparagraphs (A), (B) and (C); and
       (4) in subsection (h)(3)--
       (A) by amending the heading to read as follows:
       ``(3) Special provisions with respect to associated persons 
     subject to regulation by the federal banking commission.--'';
       (B) by striking ``a Federal banking agency'' and ``the 
     Federal banking agency'' each place they appear and inserting 
     ``the Federal Banking Commission'';
       (C) in subparagraph (A), by striking ``each such Federal 
     banking agency'' and inserting ``the Federal Banking 
     Commission'';
       (D) in the heading of subparagraph (B), by striking 
     ``Banking Agency'' and inserting ``Federal Banking Agency'';
       (E) in subparagraph (C), by striking ``such agency'' each 
     place it appears in clauses (i) and (ii) and inserting ``the 
     Federal Banking Commission'';
       (F) in subparagraph (D), by striking ``any Federal banking 
     agency'' and inserting ``the Federal Banking Commission'';
       (G) in subparagraph (E), by striking ``any Federal banking 
     agency'' and inserting ``the Federal Banking Commission'';
       (H) in the heading in subparagraph (F), by striking 
     ``banking agencies'' and inserting ``the federal banking 
     commission''; and
       (I) by striking subparagraph (G).
       (h) Amendments to Section 17A.--Section 17A(d) of 
     Securities Exchange Act of 1934 (15 U.S.C. 78q-1(d)) is 
     amended--
       (1) in paragraph (1), by striking ``appropriate regulatory 
     agency'' and inserting ``Federal Banking Commission'';
       (2) in paragraph (2), by striking ``for which the 
     Commission is not the appropriate regulatory agency, the 
     appropriate regulatory agency for such clearing agency or 
     transfer agent'' and inserting ``for which the Federal 
     Banking Commission is the appropriate regulatory agency, the 
     Federal Banking Commission''; and
       (3) in paragraph (3)(A)--
       (A) by striking ``for which the Commission is not the 
     appropriate regulatory agency, the Commission and the 
     appropriate regulatory agency for such clearing agency or 
     transfer agent'' and inserting ``for which the Federal 
     Banking Commission is the appropriate regulatory agency, the 
     Commission and the Federal Banking Commission'';
       (B) in clause (i), by striking ``such appropriate 
     regulatory agency'' and inserting ``the Federal Banking 
     Commission''; and
       (C) in clause (ii), by striking ``such appropriate 
     regulatory agency'' and inserting ``the Federal Banking 
     Commission''.
       (i) Amendments to Section 21B.--Section 21B of the 
     Securities Exchange Act of 1934 (15 U.S.C. 78u-2) is 
     amended--
       (1) in subsection (a)--
       (A) by striking ``the appropriate regulatory agency'' and 
     inserting ``the Federal Banking Commission''; and
       (B) in paragraph (3), by striking ``any other appropriate 
     regulatory agency'' and inserting ``the Federal Banking 
     Commission'';
       (2) in subsection (c)--
       (A) in the introductory text, by striking ``the appropriate 
     regulatory agency'' and inserting ``the Federal Banking 
     Commission''; and
       (B) in paragraph (4), by striking ``another appropriate 
     regulatory agency'' and inserting ``the Federal Banking 
     Commission'';
       (3) in subsection (d), by striking ``appropriate regulatory 
     agency'' each place it appears and inserting ``Federal 
     Banking Commission''; and
       (4) in subsection (e), by striking ``appropriate regulatory 
     agency'' each place it appears and inserting ``Federal 
     Banking Commission''.
       (j) Amendments to Section 23.--Section 23 of the Securities 
     Exchange Act of 1934 (15 U.S.C. 78w) is amended--
       (1) by striking ``other agencies enumerated in section 
     3(a)(34) of this title (15 U.S.C. 78c(a)(34))'' each place it 
     appears and inserting ``Federal Banking Commission''; and
       (2) in the last sentence of subsection (a)(1), by striking 
     ``other agency enumerated in section 3(a)(34) of this title 
     (15 U.S.C. 78c(a)(34))'' and insert ``the Federal Banking 
     Commission''.
       (k) Amendments to Section 25.--Section 25(d) of the 
     Securities Exchange Act of 1934 (15 U.S.C. 78y(d)) is 
     amended--
       (1) by amending the heading to read as follows:
       ``(d) Other Appropriate Regulatory Agency''; and
       and
       (2) in paragraph (1), by striking ``agencies enumerated in 
     section 3(a)(34) of this title (15 U.S.C. 78c(a)(34)) insofar 
     as such agencies are acting pursuant to this title'' and 
     inserting Federal Banking Commission insofar as the Federal 
     Banking Commission is acting pursuant to this title''.

     SEC. 716. AMENDMENT TO THE SMALL BUSINESS INVESTMENT ACT OF 
                   1958.

       Section 308(b) of the Small Business Investment Act of 1958 
     (15 U.S.C. 687(b)) is amended by striking ``or the Federal 
     Savings and Loan Insurance Corporation''.

     SEC. 717. AMENDMENTS TO TITLE 5, UNITED STATES CODE

       (a) Amendment to Section 3132.--Section 3132(a)(1)(D) of 
     title 5, United States Code (5 U.S.C. 3132(a)(1)(D)) is 
     amended by striking ``Office of the Comptroller of the 
     Currency, the Office of Thrift Supervision'' and inserting 
     ``Federal Banking Commission''.
       (b) Amendment to Section 5313.--Section 5313 of title 5, 
     United States Code (5 U.S.C. 5313) is amended by adding at 
     the end the following new item:
       ``Chairperson of the Federal Banking Commission.''.
       (c) Amendments to Section 5314.--Section 5314 of title 5, 
     United States Code (5 U.S.C. 5314) is amended--
       (1) by adding at the end of the following new item:
       ``Presidentially appointed members of the Federal Banking 
     Commission (2).''; and
       (2) 90 days after the designated transfer date, by striking 
     ``Comptroller of the Currency'' and ``Director of the Office 
     of Thrift Supervision''.

     SEC. 718. AMENDMENTS TO TITLE 18, UNITED STATES CODE.

       (a) Amendment to Section 212.--Section 212 of title 18, 
     United States Code (18 U.S.C. 212) is amended--
       (1) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''; and
       (2) by striking ``the Office of Thrift Supervision''.
       (b) Amendment to Section 655.--Section 655 of title 18, 
     United States Code (18 U.S.C. 655) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (c) Amendment to Section 657.--Section 657 of title 18, 
     United States Code (18 U.S.C. 657) is amended by striking 
     ``Office of Thrift Supervision'' and inserting ``Federal 
     Banking Commission''.
       (d) Amendment to Section 981.--Section 981(a)(1)(D) of 
     title 18, United States Code (18 U.S.C. 981(a)(1)(D)) is 
     amended by striking ``Office of the Comptroller of the 
     Currency or the Office of Thrift Supervision'' and inserting 
     ``Federal Banking Commission''.
       (e) Amendment to Section 982.--Section 982(a)(3) of title 
     18, United States Code (18 U.S.C. 982(a)(3)) is amended by 
     striking ``Office of the Comptroller of the Currency or the 
     Office of Thrift Supervision'' and inserting ``Federal 
     Banking Commission''.
       (f) Amendment to Section 1005.--Section 1005 of title 18, 
     United States Code (18 U.S.C. 1005) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Agency''.
       (g) Amendment to Section 1006.--Section 1006 of title 18, 
     United States Code (18 U.S.C. 1006) is amended by striking 
     ``Office of Thrift Supervision'' and inserting ``Federal 
     Banking Commission''.
       (h) Amendment to Section 1014.--Section 1014 of title 18, 
     United States Code (18 U.S.C. 1014) is amended by striking 
     ``Office of Thrift Supervision'' and inserting ``Federal 
     Banking Commission''.
       (i) Amendment to Section 1032.--Section 1032 of title 18, 
     United States Code (18 U.S.C. 1032) is amended by striking 
     ``Comptroller of the Currency or the Director of the Office 
     of Thrift Supervision'' and inserting ``Federal Banking 
     Commission''.
       (j) Amendment to Section 1114.--Section 1114 of title 18, 
     United States Code (18 U.S.C. 1114) is amended by striking 
     ``Comptroller of the Currency, the Office of Thrift 
     Supervision'' and inserting ``Federal Banking Commission''.
       (k) Amendment to Section 1906.--Section 1906 of title 18, 
     United States Code (18 U.S.C. 1906) is amended to read as 
     follows:
       ``Whoever, being an examiner, public or private, or a 
     General Accounting Office employee with access to bank 
     examination report information under section 714 of title 31, 
     United States Code, or a member of the Board of Governors of 
     the Federal Reserve System, a member of the Board of 
     Directors of the Federal Deposit Insurance Corporation, or an 
     employee of the Board of Governors of the Federal Reserve 
     System or the Federal Deposit Insurance Corporation with 
     access to bank examination report information under section 
     307 of the Regulatory Consolidation Act of 1994, discloses 
     the names of borrowers or the collateral for loans of any 
     member bank of the Federal Reserve System, or any bank 
     insured by the Federal Deposit Insurance Corporation examined 
     by him or subject to General Accounting Office audit under 
     section 714 of title 31, United States Code, or to whom bank 
     examination report information has been given under section 
     307 of the Regulatory Consolidation Act of 1994, without 
     first having obtained the express permission in writing from 
     the Commission, or from the board of directors of such bank, 
     except when ordered to do so by a court of competent 
     jurisdiction, or by direction of the Congress of the United 
     States, or either House thereof, or any committee of the 
     Congress or either House duly authorized or as authorized by 
     section 714 of title 31, United States Code, shall be fined 
     not more than $5,000 or imprisoned not more than one year or 
     both.''.
       (l) Amendment to Section 1908.--Section 1908 of title 18, 
     United States Code (18 U.S.C. 1908) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.

     SEC. 719. AMENDMENT TO TITLE 25, UNITED STATES CODE.

       Section 162a(a) of title 25, United States Code (25 U.S.C. 
     162a(a)) is amended by striking ``Board of Governors of the 
     Federal Reserve System in the case of member banks, and of 
     the Board of Directors of the Federal Deposit Insurance 
     Corporation in the case of insured nonmember banks'' and 
     inserting ``Federal Banking Commission''.

     SEC. 720. AMENDMENTS OF TITLE 28, UNITED STATES CODE.

       (a) Amendment to Section 1348.--Section 1348 of title 28, 
     United States Code (28 U.S.C. 1348) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (b) Amendments to Section 1394.--Section 1394 of title 28, 
     United States Code (28 U.S.C. 1394) is amended--
       (1) in the heading of section 1934, by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''; and
       (2) by striking ``Comptroller of the Currency'' and 
     inserting ``Federal Banking Commission''.
       (c) Amendment to Section 2001.--Section 2001(c) of title 
     28, United States Code (28 U.S.C. 2001(c)) is amended by 
     striking ``Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission''.
       (d) Amendment to Section 2002.--Section 2002 of title 28, 
     United States Code (28 U.S.C. 2002) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (e) Amendment to Section 2004.--Section 2004 of title 28, 
     United States Code (28 U.S.C. 2004) is amended by striking 
     ``Comptroller of the Currency''.

     SEC. 721. AMENDMENTS TO TITLE 31, UNITED STATES CODE.

       (a) Repeal of Section 307.--Section 307 of title 31, United 
     States Code (31 U.S.C. 307) is repealed.
       (b) Repeal of Section 309.--Section 309 of title 31, United 
     States Code (31 U.S.C. 309) is repealed.
       (c) Amendments to Section 321.--Section 321 of title 31, 
     United States Code (31 U.S.C. 321) is amended--
       (1) by inserting ``and'' at the end of subsection (c)(1);
       (2) in subsection (c)(2) by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission'';
       (3) by striking subsection (c)(3); and
       (4) by striking subsection (e).
       (d) Amendments to Section 714.--Section 714 of title 31, 
     United States Code (31 U.S.C. 714) is amended--
       (1) in the heading of section 714, by striking ``Office of 
     the Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''; and
       (2) in subsection (a) by striking ``Office of the 
     Comptroller of the Currency, and the Office of Thrift 
     Supervision'' and inserting ``Federal Banking Agency''.
       (e) Amendment to Section 718.--Section 718(a) of title 31, 
     United States Code (31 U.S.C. 718(a)) is amended by striking 
     ``Office of the Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission''.
       (f) Amendment to Section 1321.--Section 1321(b) of title 
     31, United States Code (31 U.S.C. 1321) is amended by 
     striking ``Comptroller of the Currency'' and inserting 
     ``Federal Banking Commission''.

     SEC. 722. AMENDMENTS TO TITLE 44, UNITED STATES CODE.

       (a) Amendment to Section 1111.--Section 1111 of title 44, 
     United States Code (44 U.S.C. 1111) is amended by striking 
     ``Comptroller of the Currency'' and inserting ``Federal 
     Banking Commission''.
       (b) Amendment to Section 1344.--Section 1344 of title 44, 
     United States Code (44 U.S.C. 1344) is amended by striking 
     ``Comptroller of the Currency'' each place it appears and 
     inserting ``Federal Banking Commission''.

     SEC. 723. AMENDMENT TO THE TRUST INDENTURE ACT OF 1939.

       Section 321(b) of the Trust Indenture Act of 1939 (15 
     U.S.C. 77uuu(b)) is amended by striking ``Comptroller of the 
     Currency'' and inserting ``Federal Banking Commission''.

                          ____________________